- advertisements -
Rally...this must mean more stimulus!
SP500 up almost 2%. Almost everything is up. Panic buying. WOW.
Yes...if the markets are rallying then everyone must know something I don't. QE2 must be on its way! Oh joy! I better jump on this bandwagon now before it's too late! Thank God for QE2! It's most definitely a foregone conclusion at this point.
(or will the Fed just be flashing around its QE2 bullet for an "extended period" because its the last bullet it has?)
That's gotta be good for a 180+ point shove upward on the DOW. It's just gotta be.
It's going to be fun watching the equity honks promoting this while the bond market yawns.
For those who are perpetually cheering today's rise of the S&P 500 above the 200 DMA, I would just remind them that it did this one other time recently after a "Death Cross"....May 2008.
Gee, whatever happened after May of 08...hmmm....
Funny (not so much). I was very dumb money in 2008. I was told by a friend who had been bearish for some time that the 25 and 50 crossed over the 200. I brought this to the attention of my "advisor". His reply - "Technical analisys is worthless, it's all about fundamentals." The rest... is history.
"Technical analisys is worthless, it's all about fundamentals."
Those are the same people that want permanent bans on all short sales. Of course what they don't realize is that while the shorts are on summer vacation, they are filling a huge air pocket in the markets with more air.
No retail commitment.
No reality in some of the earnings.
No monetary velocity.
It's shaping up for one more really nasty August-September swoon if not outright implosion.
Any # above 50 is good ... although 55.5 should be about 65 with all the money the .gov is dropping from skynet.
That being said, the new orders fall off is indicative of abrupt slowing which should be trended over the next couple of quarters. If that new orders metric goes below 50 ... all the rest will follow, in lock step. 2011 should be a doozy.
So does that mean the next report will be to the hundredths? 50.01 all is well, still expanding........don't mind M/M numbers...that is just semantics.
Price action is all that matters people. The price action says buy the dips. Get long and cost average in on any dip. Always you stops and money mannagment. The risk now is shorting these rallys. Thats the message from the markets.
IT'S ALL RIGGED TO THE UPSIDE.............. TILL NOVEMBER. MAKE FREE MONEY $$$$$
The equity market launches as it celebrates the fact that the ISM Index was lower than June and is the lowest reading of 2010. The S and P 500 rockets up 21+ points while the DOW living up to "no stock left behind" launches up 188+ points. The ISM Index is now officially below the reading for October 2009! Yes America a weakening economy is reason to celebrate.
ISM Index Recap
55.5 July 2010
56.2 June 2010
59.7 May 2010
60.4 April 2010
59.6 March 2010
56.5 February 2010
58.4 January 2010
55.9 December 2009
53.6 November 2009
55.7 October 2009
The Vigilant Grandpa needs the Kool-aid recipe
I think Rosie was waiting for this one. Let's see what he has to say about it. Very troublesome. If you are a trader, it seems risk on until further notice, especially given all of this pre-QE 2.0 chatter at the highest levels. If you're like me, and worried about the big picture, this report bespeaks stagnation and slow to no growth, despite herculean printing press activity. The jobs report on Friday will be a snoozer too. No relief in sight.
Well, doesn't it matter that all those Ph.D's were from reputable universities?
Volume sucks. We know how this plays out. Sometime in the near future expect a 2% drop on massive volume on bad news somewhere in the world.
Agreed... This magic carpet ride will have to end soon. If you believe in gap fills, the ES now has 2 unfilled sizable gaps just waiting to be filled (7/22 - 13.75 points, today - 10 points). And it's not the amount of points the gaps are, it's the distance from where we are at today to 7/22's fill (around 54 points). Gaps don't always get filled but this is looking suspicious.
Right, that's why volume is busting out...oh wait, it's sucking a massive dong today also. How fucking wierd.
For the longest time I was flummoxed by what the Great Bearded One (as in JC not BB) meant by "The meek shall inherit the Earth". It's starting to make more sense now...
Right, that's why volume is busting out...oh wait, it's sucking a massive dong today also.
absolutely fantastic, although i suspect that after that many viagras a heart attack and/or stroke is probably overdue
Volume sucks b/c those afriad are not entering, and all the hedgies are either
a) on an island banging models (not the quant kind either) and doing lines while snorkeling
b) looking for a good shorting position.
They know the upsides are slow to climb and quick to fall.
What do you mean upsides are "slow to climb?"
WTF did you see happen last Friday and today?
Tips: tips [ at ] zerohedge.com
General: info [ at ] zerohedge.com
Legal: legal [ at ] zerohedge.com
Advertising: ads [ at ] zerohedge.com
Abuse/Complaints: abuse [ at ] zerohedge.com
Advertise With Us
Make sure to read our "How To [Read/Tip Off] Zero Hedge Without Attracting The Interest Of [Human Resources/The Treasury/Black Helicopters]" Guide
How to report offensive comments
Notice on Racial Discrimination.