Thursday, July 18, 2013

Thursday evening


An old Indian Chief was asked by a white U.S. government official, “You have observed the white man for 90 years.  You’ve seen his wars and his technological advances.  You’ve seen his progress, and the damage he’s done.”

The Chief nodded in agreement.

The official continued, “Considering all these events, in your opinion, where did the white man go wrong?”

The Chief stared at the government official and then replied.

“When white man find land, Indians running it, no taxes, no debt, plenty buffalo, plenty beaver, clean water.  Women did all the work, medicine man free, Indian man spend all day hunting and fishing; all night having sex.”

Then the Chief leaned back and smiled, “Only white man dumb enough to think he could improve system like that.”

Thursday afternoon

DJ-20 Daily Chart (11:10)
I keep harping on the transport theme.  It has been a very good tell.  Now it is approaching the high we saw in May.  A pause should not be a surprise.

DJ-20 5 Minute Chart
If you are watching you might find a short side trade in IYT.  I won't be playing it.

Thursday morning