Hoods and Bosses over at Goldman are cooking up something. Difficult to tell what kind of trick they are scheming up, but the relative strength in the euro, copper, and RKH leaves me somewhat suspicious. Maybe they powerjam stocks back up to the 50-day to blow out the late bears?
Lots of charts still hanging around "Do or Die" levels being eyeballed by millions of hedge fund traders with their hands nervously hovering near the F11 or F12 keys. Virtually 100% of all technicians this weekend were harping on the clear and obvious "technical breakdown". Yet I find this to be odd when only last Tuesday we made new highs for the move. Seems like the Goldman Pigmen are concocting some plan to throw these slide rule technicians off balance somehow.
Here are a few to watch:
Otherwise, pretty boring tape this morning, except for the poor blokes who shorted Halliburton in the pre-market:
Also found it odd that those who were piling into the "recession proof" biotechs were burnt today.
It really boils down to this.
As my buddy Rasputin puts it, its "Inflate or Die".
Is Obama and Congress dumb enough throw out Bernanke and watch the economy implode and trillions of dollars of toxic trash on the Fed's balance sheet get blowtorched??