Another Rate Hike Injects Adrenaline into the Market

2007/12/21 15:17:26

A few quick words.

The tedium of the macroeconomic significance of the rate hike can continue to be debated. But as for the effect of rate hikes on the market, it's like a shot of chicken blood — never mind whether it works or not, inject it first and talk later. And the market, as always, went into a frenzy of chickens flying and dogs jumping.

Technically, there's nothing much to say about today. As long as no top fractal appears on the daily chart, and no divergence appears in the 1-minute uptrend, you can continue sleeping and wait for the sell point.

Over the weekend, if nothing special happens, plus a round of media offensives, Monday should be able to hype enough people into coming in no matter what. 5,209 points — the neckline. Whether the bulls can succeed in one push depends on their weekend jawboning skills.

This ID's strategy remains the same: don't face the wind head-on, don't stick your neck out, just take cold shots from the side. If the bulls are still going strong, we'll cheer them on. The moment they falter, we fire a farewell shot. That's all there is to it.

This weekend, for the sake of our stocks growing fast and tall, let's all shout together: Long live the bulls! While shouting, let's polish our bows and arrows, machetes, and machine guns nice and clean.

The market always favors the most shamelessly cunning — not those who charge in bare-chested.

Weekend, be happy.

Off now, goodbye.