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Freaky Friday Potpourri: The Make or Break!


A binary event looms for the market.


"Caught up in a whirlwind can't catch my breath, knee deep in hot water broke out in a cold sweat. Can't catch a turtle in this rat race, feels like I'm losin' time at breakneck pace." --SRV

Oops, there it is. With the stair-step nationalization of Citigroup (C) dominating the headlines, we arrive at the freak that is Friday to find the stock market sitting at a critical crossroads.

S&P 741-the November (and multi-year) low-is the level of lore.

Break, and "sell stops" will trigger throughout the land.

Hold, and the "double bottom healthy retest" chorus will sing loudly with hindsight.

If only it were that easy.

Pepe Depew, whose technical work has been dead on balls accurate, has steadily offered that a move below S&P 741 is necessary for a rare convergence of DeMark exhaustion buy signals. I don't claim to understand the nuances of this technique but if it helps, I'll toss my exhaustion into that mix as well!

Given the magnitude of the moment, I'm gonna unleash the hounds and spew the dew.

Answers I Really Wanna Know...

Wisdom from Minyan Peter

"While the largest U.S. banks begin their stress tests, I thought this quote from the head of Royal Bank of Scotland (RBS) regarding its own loan loss forecasts was instructive:

"All of us have our eyes open but we can't foresee the future. I don't think any of us have any ability to ascribe a sensible probability of where the loss will occur, or at what pace." --
Buzz & Banter, February 28, 2009

The Minyanville Underground Railroad

Last week, we floated the idea of creating a global grid of human capital, folks who are very good at what they do and better at who they are. People who still believe that our name and word means something and there's a better way to do business with honesty, trust and respect.

The feedback has been astounding, with almost 500 Minyan Ambassadors in all 50 states (thanks North Dakota !) and 25 countries. And we've only just begun. On today's close, we'll shoot out correspondence-including the "secret" hand sign-as the first step in this most worthy journey.

Minyanship isn't bound by political affiliation, religious beliefs or borders; it's an ethos, a belief system and a conscious effort to be part of the solution. If you would like to climb aboard The Critter Express, just let us know and we'll get it done.

And thank you-for a dream is only as powerful as those who believe in it.


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