Wednesday, June 8, 2011

Russell 2000 - IWM

The chart below is a daily view of the Russell 2k tracking stock ticker IWM.

Many have commented about the market being gamed. Now you can argue all day long about it and more often than not it will be perceived as sour grapes. Just as when you ridicule something like a Linked In IPO, you just weren't brilliant enough to know it was going to pop for 1087 minutes. Yes pure acumen. Like at the track or the casino nothing but winners here.

Those hedge fund and pension valet attendants may have Ivy league diplomas but they sure behave like mezzanine riff raff at the track or on the slots floor at the Stratosphere. But back to the Russell.

Just so you don' thing day boyz only game and cheat the bears they also get the dip buying bulls. Yes they are equal opportunity cheats who don't discriminate.

I want you to take note of the hi lighted green area on the chart. How many bought this dip as it broke out. on May 27th, through the descending trend line? Not only a break out but a gap no less. Then another gap the 28th accompanied by massive volume taking out the May 19 reaction high of 83.97.

Are you kidding me? Couldn't have set the trap any better could they. You think the SEC notices things like this? I mean, you can't surf the net for porn all day long now can you?

Are you still wondering why I feel the way I do? Are you still wondering why I post stuff like I did yesterday? Just in case you missed the quote, which was from Frederic Bastiat, a french economist from the mid 1800's, I will reprint it again below.

When plunder becomes a way of life for a group of men living together in society, they create for themselves in the course of time a legal system that authorizes it and a moral code that glorifies it.”

Just call this the wandering jibberish of a fool. Actually thats a pretty good name for this blog. Hmmmm.

Anyway, while on the topic of plunderers, did you happen to catch Jamie Dimon's (was it a question or a plea bargain ) dissertation at Bernanke's speech yesterday? Pathetic, corrupt, maggot he is. You see I can say that as I do not live in fear , as Wall St. analysts do, that he may cut me off to any access to him, or my firm off of any high finance deals. I can say that because, as an idiot blogger (right Caruso-Cabrera?) I and others out there, can say anything we want to, hell make it up as we go along.

The thing the regurgitators and enablers in the mainstream media, in particular at propaganda central CNBC miss, is that I do not need to grovel before him as I am not dependent on any of his advertising dollars. You can call me a hater but before you do please take a look at what these, as Max Keiser has continually referred to as 'financial terrorists', have done to the landscape before you pass judgement on my harsh words.

While watching the comedy show, or rather the live perjury session of Bernanke, I howled as Dimon took the stage and claimed mortgage lending has gone back to what it was 30 years ago. Too funny! Except it isn't funny when it is a bold faced lie. Maybe I could, as a non-Ivy league diploma possessing simpleton, remind Mr. Dimon and his band of hacks that 30 years ago you needed to put at least 20% down to buy a home. You think any of the boobs and boobs in chairs at CNBC has the onions to bring this up? And not funny money either, real cash, as bankers back then demanded you have skin in the game. The bank also held the note. Go figure. How stupid were they?

Good speculating to you all and please remember to never forget that "an investor is a speculator who made a mistake and will not admit it".

Open Positions:
Long 1 unit Direxion Large Cap 3X Bear ticker BGZ @ $96.70
Long 2 units Direxion Small Cap 3X Bear ticker TZA @ $60.30
Long 1 unit Direxion Emerging Mkts 3X Bear ticker EDZ @ $60.50
Long 2 units Direxion Financial 3X Bear ticker FAZ @ $98.25
Long 2 units Ultrashort Xinhua China ticker FXP @ $42.45
Long 1 unit Ultrashort Real Estate ticker SRS @ $49.10
Long 2 units Direxion Tech 3X Bear ticker TYP @ $52.60

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