Sugar futures are down about 20% in one month (ahem):

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Look at that contracting triangle last fall — it is a thing of beauty and foretold higher prices, especially since DSI was only 20% by the end.
Let’s put this in perspective:

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I was stopped out of my short from 29 cents at 24 last week after tightening [...]

Since Graphite senses some parallels here, I thought I’d throw up a chart of the run-up to the crash of ‘87:

prophet.net
I was just a kid, but I remember watching the news that evening. Upon hearing that the market had crashed 22% in a day, I thought to myself, “that doesn’t sound so bad - people [...]

When the short-term gets hazy, remember the big picture.
The drop so far (about 6% in 12 days on a closing basis, 9% in 13 days intraday):

Source: Prophet.net
Here are the conditions I am watching: RSI on the daily scale is now oversold. However, DSI bullishness has dropped from near 90% to the 30s, which still leaves a [...]

How about a little of that late-day magic?

Source: Prophet.net
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Of course I think the whole Plunge Protection Team theory is nonsense. Not that there isn’t one, but that it matters — how come we still have crashes, and how come every stock market in the world goes up and down together (not to mention commodities, currencies, [...]

I was extremely, almost uncomfortably short for the last couple of weeks, and with the Dow down 175 a few minutes ago, I covered my stock futures shorts and bought a few contracts to hedge up my long-term puts. It’s looking very good for the shorts — dollar up across the board, bond spreads wider, [...]

S&P 500:

That’s not a projection for a final bottom, by the way… that would be lower.
Gold, from 1971 (Richard ”I am now a Keynesian in economics” Nixon):

Note: Under Bretton Woods, the dollar of course was pegged at 35 to the ounce from 1933 to 1971.
Gold has been in a parabolic move since ‘04, and the degree [...]

This is from a month ago, but it is a wide-ranging discussion from a long-term point of view. Depew is a very sharp guy who saw deflation coming himself, so this is one of the best Prechter interviews I’ve seen.

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“Yes, a depression is a period that’s difficult for many many people, but it’s not the [...]

From Bloomberg:
Dec. 29 (Bloomberg) — The Standard & Poor’s 500 Index will collapse below its March lows as an expected rebound in economic growth fails to materialize, according to hedge fund manager Eric Sprott.
The Toronto-based money manager, whose Sprott Hedge Fund returned 496 percent over the past nine years while the S&P 500 lost 32 percent, said the [...]

The Global Dow since 2001:

Source: wsj.com
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This chart makes it clear that the bubble still has a lot of air left.  The 2009 lows were well above those of 2002/3, and now stocks are back into boom-time 2006 valuations, as if the credit collapse and associated declines in earnings and dividends had never happened. This year [...]

Graphite here.
One development which has been making the rounds in the financial news lately is the development of a US dollar carry trade. I won’t ponder the details of the carry trade here, as I’m sure most readers are familiar with its mechanics. Shorting low-yielding assets like the dollar to fund purchases of higher-yielding ones [...]