You have a Fed governor, Lockhart of Atlanta, admitting the 'real' unemployment rate is closer to 16%. But it matters not. Claims that housing is bottoming from all the "never saw it coming but now have their finger on it" pundits. Yet defaults continue to rise across the spectrum.
But don't worry our unelected officials, past and present, men like Bernanke, Geithner, got your back. So much so that the head of the Chinese Investment Fund, Lou Jiwei, in a piece carried by Reuters, can openly admitted the following;
"It will not be too bad this year. Both China and America are addressing bubbles by creating more bubbles and we're just taking advantage of that. So we can't lose,"
Yes, dear reader bubbles upon bubble. One big giant ponzi scheme! Paid for, coming and going by you the taxpayer. But why should we care so long as there is plenty of Prozac, Ritalin, American Idol and Survivor for the masses.
For everyone whose lives are so boring, so uninspired that their needs have fomented these shows popularity, just wait. I truly believe that we are in for one heck of a "real world" reality show in our near future. I dearly hope I am wrong on this call but when I sit here and remark that C, AIG, FNM, FRE are 25, 35 or 40% of our stock market volume and something is VERY seriously amiss, ( Maybe David "the brain" Faber of CNBC can investigate this for us?), it can be written off as the ramblings of a neophyte. Just ignore me as a tin foil hat wearing, black helicopter fearing, fear mongering, short selling, idiot blogging conspiratorialist.
Just remember this, when the smart boyz on CNBC, are paraded out, YET AGAIN to tell you, "they didn't see it coming".
Speaking of AIG and the like, can you imagine the screaming and whaling by the "big boyz" if these stocks were dropping instead of skyrocketing like they are? With the volume we have seen, to the downside? To quote Dick Enberg of NBC sports... "OH MY !!" For more on the quartet of C, AIG, FNM and FRE check out what Brett Steenbarger over at Trader Feed has to say here on the subject of the Four Horsemen.(did Jim Cramer trademark that?)
The screams for redress, the whaling for re-instatement of the uptick rule, the demands for short selling restrictions would be overwhelming. Funny how those brilliant stock picking crybabies have disappeared back to the comfort of the Hampton's the last few months with the rally. Coincidence maybe?
The government would NEVER intervene in the stock markets to prop up stocks, would they? My favourite term is quantitative easing. I love how that sounds so intellectually superior to the phrase market manipulation. I will say what so many others are scared to say, fearful their subscribers will bolt on them. Does it matter if the government does it directly or via one of their proxies on Wall St. ? Maybe it's time we start discussing these things, out loud so all can see. Instead of dismissing anyone who does. Tis a thought.
I heard that Richard Russell recently opined that where your are now, financially is the best you will be for the foreseeable future. But what would the old man know. He must have lost it right. He could never match wits with your, we don't pay you to think we pay you to sell, never met a stock that shouldn't be bought, I got 4 mouths to feed retail broker. But once again, I digress.
My apologies for jumping around this morning.
Housekeeping notes;
On Friday, on the back of Intel and Dells announcements/numbers position at $23.43 as it I was stopped out of my SSG gapped down, for a loss of just over 1.5 pts on 1 unit.
Good speculating and remind them to please don't ever forget that "an investor is a speculator who made a mistake and will not admit it".
Open Positions:
Long 2 units Ultrashort FTSE/Xinhua China 25 ticker FXP @ $10.58 stops @ $9.94/9.54
Long 1 unit Ultrashort Real Estate ticker SRS @ $11.93 stop @ $10.94
Short 1 unit JP Morgan ticker JPM @ $43.66 stop @ $44.71
Short 1 unit Abercrombie ticker ANF @ $33.23 stop @ $35.33
Short 1 unit Aeropostale ticker ARO @ $40.81 stop @ $42.36
0 comments:
Post a Comment