We constantly say we have given up drinking, but passing a bar the smell of beer draws us back inside and the next thing you know we’re throwing darts and singing and having fun.  Is this what Malraux meant by the human condition — or man’s fate?  Or are we just having fun in the garden of earthly delights before they take all our clothes away and we wind up in the hands of Dante?  It is good for readers to know the workings of our inner mind when we turn to handicapping.  Tim Knight, the famous bear, who just got his cojones crushed in the ebay takeover of GSI (no shame.  happens to every trader worth his salt) has this little jewel long, and the chart couldn’t do much more than scream at you.  The signal here is strong enough to wake a bear.  The nature of the company is enough  (pharmaceutical) is enough to advise not to plunge on the bet.

Meanwhile back at the ranch in Silicon Valley AAPL broke its long term trendline.  Never a good sign.  Shortly we will follow up with a Basing Point analysis.