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When Is The Market Going to Top Out?
Once again our efforts to pick out a reversal day were foiled. Each and every time we think "This Is It!!", the market sells off for one day, and immediately, the dip buying monkeys from the Wizard of Oz swoop in and start buying. Meanwhile, macro traders with a bearish bias sit back, slackjawed in amazement, wonder how the S & P 500 can rally 100% in 2 years with no jobs, no recovery, rocketing commodity prices, and rising interest rates.
Let's review the checklist:
QQQQ and Russell 2000: New highs
Retail stocks: New highs
Mohammed "Sugar High" El-Erian looks like he was outgunned by the Red Bull and Monster Energy-chugging mo-mo traders now inhabiting all the "Institutional" trading desks at TIAA-CREF and CalPERs.
Bank stocks: Still going up, breaking out of a flat base
Meridith Whitney might have to cave in and follow Nouriel Roubini by buying a $5.5 million condominum in the East Village.
Cyclical stocks: New highs
I wonder if Frank "I totally missed this rally" Barbera is still hanging out in his bunker in Palos Verdes?
Now look at the transports. Tim "You Have Been Warned" Wood and Richard "Mother of All Topping Patterns" Russell must be looking at this chart in total shock:
Now let's look at some international indexes. Did FXI and IFN put in a bottom this week?
Peter Schiff and Puru Saxena could use some help here:
Must offer some condolences to the uber-bears on gold, like Dennis "I am not a gold bug" Gartman and poor Tom O'Brien over at TFNN.com. If the GDX gaps away over the 21-day and takes off, these guys are going to be left in the dust:
The clue on this one will be to see if gold can continue advancing in foreign currencies:
And note that the OIH, XLE, and XOP are barely off their highs, while crude is down 8 out fo the last 10 days, and natural gas has plunged to yet another new, world record low when adjusted for inflation. But no weakness in the oil stocks yet.
Oil not quite as strong as gold, but we should get a decision soon one way or another:
And speaking of foreign currency benchmarking, the S & P 500 is breaking out yet again overseas:
The only weakness I can see right now is that the Summation Index is crawling up, but it is far away from making new highs. The only way this can get corrected is if some of the lagging sectors (big cap pharma, shipping, solars) can start playing "catch up".
http://stockcharts.com/charts/indices/McSumNYSE.html
So all we can do now is to watch and wait. There are millions of eyeballs watching the exact same thing I'm watching. Thousands of hedge funds anxious to "make their year" by nailing the next top and riding the next bear cycle.
Meanwhile, Gary Kaltbaum continues to nail this market. He's been spooked a few times, but for the most part, he's been right on the money on riding the bull trend.
http://archives.warpradio.com/btr/InvestorsEdge/021118.mp3
Unfortunately, the "pro traders" over at TFNN.com have gotten it dreadfully wrong this year, fighting the tape the entire way up and losing money had over fist.
David White shorted WYNN, HBAN, and STI in the morning and got blasted....
http://www.tigeruniversity.com/mp3/PTH021111.mp3
Larry Pesavento had at least 5 key astro dates turn against him this year:
http://www.tigeruniversity.com/mp3/TWS020911.mp3
And poor Tom O'Brien started tweeting a couple of days ago, and the last one I saw was how the Russell 2000 had a "major failure" on Thursday. That call was good for less than 12 hours...
http://www.tigeruniversity.com/mp3/TOS021111.mp3
Phil Grande nailed almost every market top in 2007 - 2008, and heroically rode the market down on the bear side. This year, a dramatic reversal of fortune:
http://www.philsgang.com/media/RadioShow/Fri/RadioShow20110211.mp3
Now that Egypt is "free", stocks are trading at new highs, restaurant stocks are going parabolic, 1997-1999 hookers like ALU and JDSU are re-visting their glory, everyone has now turned their attention to Daytona Beach.
Who is going to Bike Week this year?
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New Post by London Banker (though for some reason he doesn't have any visual aids accompanying his post)
http://londonbanker.blogspot.com/2011/02/mervyn-king-from-bagehot-to-bas...
it's a bubble and can't last. when? too hard to tell.
http://covert2.wordpress.com
Thanks, Anon.
For those not familiar with London Banker, he is the real deal. He was a regular on the old Roubini site a couple of years ago, then took a sabbatical from the blogosphere from which he recently returned. I believe most ZH readers would appreciate his perspectives.
London Bwankers homage to the establishment crone Mervyn King at the Bank of England is un-informed, delusional and ridiculous. King has over-seen Keynsian policies in a disaster he was supposed to prevent (a run on the banks).
Kings speech can be summed up as "an incompetent crone covering his own failed arse". He did nothing (and said nothing) about the British retail banks over-leverage. As regulator he was so sloppy and lax he didn't know RBS-NatWest was 36 hours from running out of cash and total financial meltdown. After the event he in good crone stylee pumped the system full of counterfeit money to bailout that which he should have prevented if he was doing even half-a-job (no such luck!)
And finally King said not a whimper as Prime Minister Brown bribed Lloyds to takeover bankrupt Bank of Scotland which if he'd known their books would have forsaw the Lloyds-BoS merger also going bankrupt within months requiring a 2nd fuking taxpayer bailout.
King has overseen the biggest clown show and tragedy in British banking for 300 years. Not only that he has put the British taxpayer on the hook for it (treason). He is the ultimate incompetent don't rock the boat or make a squeek political crone. Mervyn King is a fuking joke wrapped in total incompetence and London Bwanker is trying to create a smokescreen of that fact and is a snivelling whitewashing tosser
You didn't even mention the empty gold vaults...and he's still a tosser!
was selling British Gold at the bottom of the market a Gordon the Gormless decision or a King Crone decision? Probably a Gormless decision rubber stamped by the wimp King crone (as usual)
So when will the market turn?
A month? SPX http://99ercharts.blogspot.com/2011/02/spx_2390.html
A week? DJX http://99ercharts.blogspot.com/2011/02/djx_12.html
Monday? COMP http://99ercharts.blogspot.com/2011/02/comp.html
Have a great weekend! Because nobody knows.
End of March. Portugal/Spanish bailouts.
Perhaps RT is also scratching his head as to when it will turn but I am beginning to believe as Sudden Debt has suggested in an earlier post that the top may be related to some ungodly number tied to some hellish target on the S&P that some big banks may have wagered on. One example is Buffet and his S&P put insurance. perhaps there are other banks playing the same game and hence the need to pump the index to those high levels. Dont see this turning around anytime soon and am damned peeved at it !!
Warren Buffet stepped up to the plate and bailed out a lot of companies that should have gone broke, namely the railroads, Goldman Sachs, GE, the piece of sh*t Wells Fargo, and probably even more. That creates a lot of people who now "owe him, big time" and it does not appear to be out of the question that the Fed would run the market (DJIA) up to 14,000 to let him win his bet. I made this exact same comment before and had all kinds of people letting me know how stupid I was.
Some friends and I were discussing what will happen when the Fed stops buying the market and the dollar is no longer worth ANYTHING. If a person makes a billion dollars shorting the market, and the money isn't worth anything, did they actually "win"? To be honest I am thinking that when the market finally turns, there will be absolutely no winners at all. To quote JFK, "Our victory will taste like ashes in our mouth."
Fish, I love ya'. Had lunch with a bunch of old friends who have long experience being 'intimate' with GE, that venerable 'bank holding company.' I'll try to parse/analyze ('deconstruct', another one for the list)
'Stepped up to the plate." == Graham disciple that he is, had a shitpot of cash on hand. Like, what? $23BB US?
"Railroads" == BNI needed cash, BRKA had assured replenishment of cash through:
"GE (GE Capital)" == derivatives imploded, GE couldn't stand its cash flow, Uncle W. came in and with like $5BB bought senior preferred stock, with warrants, with payout of >17%/anum for ever.
"GS" == another $5BB infusion, 'cuz we know that they are his very favorite trading shop.
"WFC" == yep
and my favorite:
"CEG" == where Mid-America Power offered to buy the whole shootin' match for $5BB. CEG board took the money. EdF (CEG partner) counteroffered to buy 1/2 of their nuclear assets for $5BB. CEG board took the $1BB poison pill and Ol' Uncle W made 20% on his $5BB in one month.
Yep, that's the 'Sage of Omaha' doing his long-term buy and hold thing. Baron Rothschild:
e.g.: (but widely known) http://www.articledashboard.com/Article/The-Blood--Sweat-and-Tears-Invol...
- Ned
The market is valued in USD and they're printing a lot of them.
How long can it last? Will consolidation of the indexes change valuations?
This is all the result of central planning policy, not fundamentals.
It's another bubble, for bubble heads, by the bubble makers.
Make money while you can but know when/where the exits are.
Homey don't play that.
The market is not going to top out. What was a controlled demolition is now a corporate takeover. Have you bought, WFMI, UNP, DIS, CAT, HOG, SLW, HES, JWN, ABX, NFLX, and held on tight? Why not? Why try and day trade Bernanke's madness. Just carpetbag the equities and ride it like a flea rides a dog.
Where is the strength in a company? PRODUCT. The corporations have total control of product. Disney sells its brand name as its product. Disney has no downside when the majikal kingdome can pay its dues. The State of California on the other hand....
It is all according to plan. The centrally planned economy knows what it is doing. Bring in total chaos and let the corporations sieze all assets along the way. For anyone who believes there will be another crash in equities, it could happen. But what if the dollar was dumped while a crash was occuring....what will be the preferred investment, MUNI bonds, oor equity in an industrial corporation?
In Paul Krugman's Nobel Prize lecture, he referred to this as the rise of firms. This is when we all recognize, we work foor a corporate government, and we will be paid by the corporations. He wants you to believe we are nothing without corporations, and we should use them as best we can. They are our greatest assets.
I believe that they function mechanically, and without care. They pollute the earth, because the do not live in the earth. They exist outside of reality, much in the same way as the dollar.
The dollar being fiat has no loyalty. It is what it is everywhere to anyone, but at the same time, it is nothing. Nothing but a debt agreement, and this is what the corporations are too. They have no reason to support a tribe, but the US government has said they will.
Look, this is a corporate takeover, that is why everyone and their Momma should buy silver. Silver is monie and if we take the money back before the corporations steal the economic landscape, we can rebuild the markets. Disney has built the rides until now, now we build our own.
Buy silver.
" But what if the dollar was dumped while a crash was occuring....what will be the preferred investment, MUNI bonds, oor equity in an industrial corporation?"
Good point. Outside of equity stock ownership by American citizens, I rather think that it will be the denizens of other countries after the chaos that these corporations are serving. I don't see too many manufacturers of anything I need to buy in my backyard (outside of food and energy), nor do I foresee too many of my neighbors being able to buy anything from 'our' American companies after the dust settles.
The fascist State hopes to convince its citizenry that we pay taxes so they can fund the corporations; in return the cosumer gets the "goods" (which are anything but). Yes it is the exact same way we live today, but this next time, we will not have a sovereign dollar. Once the people lose their inalienable right to produce monie (which is best backed by precious metals) then it is all over. Competing currencies are a necessity, thus why it is a good idea for each State to make their own form (backed by whatever percentage of gold/silver/platinum).
The new currency will be dingleberries. They are the only thing on earth that are more plentiful than dollars.
Can ANYONE please explain to me how this market can still go up? Who is buying? How can it be proven it is being manipulated? Is that what is happening?
I am a dentist so I really don't have "investment" formal training but this just doesn't seem real. Is the fed just buying everything through proxies or something?
I appreciate any and all help here as I am seriously trying to figure out how to invest here and I haven't been in stocks but, hey, if this is going to continue........
As a dentist, you have an opportunity most Zerohedgers do not. You can literally steal the gold out of your patients mouths, and replace it with something of less value!
Ridiculousness aside, search this site for POMO and read every article, this will greatly increase your understanding.
Depending on your situation, your investment in my opinion should be 50/50 au/ag for only PHYSICAL for 20-50% of your savings. Invest in Pb if you already haven't, as well as a few classes on how to properly allocate : ). Invest in eating out at restaurants you haven't enjoyed yet while they are still there. Stay the hell out of the rigged stock market! Pay off your debts with the remainder.
hey, that would make me a cousin of the Bernank!
Yes, I've been reading about POMO... when I talk to my investment manager friend about it all he can say is "oh, they're not printing money!!!". And , hey he was named one of the top investors of the year last year in D Magazine! So, who am I to argue with him but I guess everyone lives with their own lies they tell themselves.
You mean lead? Yeah, I know a gun collector too who says he's NEVER lost money on a gun.... So, that is something I have looked at for a very long time but feel I just don't know enough.
Amen about the restaurants. I feel for all of the small businesses. I never thought the depression would go on this long, really didn't.
I definitely appreciate the Zero hedge crew and followers. It is a comfort just to come here and verify reality since those around me are VERY BUSY putting on a positive face and a stiff upper lip saying "oh , it's all great!!, everything's fine! couldn't be better".
Thank God for ZeroHedge. The absurdity of this reality is surpassed only by the vociferous denial of it.
Your investment manager has quite the horse blinders on! He's likely envisioning actual 'printed' phys paper money, not the 'electron' variety. Slosh slosh slosh, that the sound, where it lands will make 'nominal/notional' investors the clown. A few things I didn't mention... keep some actual paper cash stashed (a few grand) out of the banking system, AND, DO go out to a coin shop and purchase silver NOW, that means on monday. Don't worry or lose sleep if it goes down a bit. This of course is the 'trade' side of your investment. You currently have a great probability of raking in on the short squeeze. Silver IS in backwardation and contango (once in a lifetime opportunity presenting it's manipulated head). IF, and WHEN the ratio of Gold/Silver goes back to historical standards, liquidate your silver position and convert to gold every ratio decrease of 15% until you are 70 au/30 ag. Final liquidation will leave you at around~14 to 1 with 70% wealth preservation in your PM account. Transportable, historically relevant, sweet purchasing power preservation.
The other side is the gold which will be your wealth preservation side. If it goes down in terms of FRN, smile and wait it out. Don't sell. QE is NOT going to stop, and an bond bubble (untraditional) is glistening in the sun.
Markets constantly evolve. The current is now based on Corporate Earnings and little else. Since the big run up started in August, everyone is trying to make it to August so that Long Term Capital Gains (LTCG) tax rate of 15% can be garnered. Thing is, only shorts make money buying stock and, like everyone else, very few make money on the way up because if you sell, YOU'RE OUT and if you sold under STCG rules and get back in before a major correction, that major correction will leave you with a tax liability and no margin. Since the tax difference between Ordinary income and LTCG is often 20%, you'll need to see a correction bigger than that to see any real profit taking. The seriously low trading volumes help my argument and since QE2 ends in late June (just because the run up started in Aug doesn't mean that some weren't already fully invested), look for a race to the LTCG finish line before the real fireworks kick in and look for the pressure to "beggar the bigger fool" to increase dramatically as the finish line approaches.
Sorry the markets died in 1982 when the 401k / IRA programs started !! Check historical graphs on a linear scale and see how the middle class has been skinned and boned ever since. You may be 28 years too late in this rigged game. You may be better off riding this thing down (if and when it ever does) !!
in order to "ride this thing down" do you mean shorting the market? I'm assuming that's what you are saying here.... but then I guess that requires a lot of extraordinary knowledge and expertise in what and when to call for the short. Right?
When will be there be no one left to buy, and the selling begin, when the fear of losing profits equal the fear invoked by this:
http://www.youtube.com/watch?v=pLFIxt2cK_0&NR=1
there's no one buying now...i watch the tape on several stops and they move this up on 100/200 shares, than 1000 to 1500 drop it down, and they ratchet it up again...usually one penny higher than before, then its drops down again.
its all computers.
March 9, 2011.
Sim sala bim.
Jobs and consumer confidence are lagging indicators. If you wait untl the economy looks great before you invest you will have mised out of the majority of the returns.
My take...
or another way of looking at it...
What I see as a problem is that the cost of entry has gotten too high for the average American. Who can afford to buy 100 shares of say, Aapl, Nflx, Amzn, Crm, Cmg, Goog, Berkshire, Gs, Pot, etc.
Maybe that is what they want, is to keep the Retail Investor out of the Market to lower volatility. Or, maybe it is so you have to put your money in a Mutual Fund and pay someone else to make the decision on how to invest your money.
What ever their reason the high price of stocks puts a barrier to entry for the average person. I think it is intentional.
Who said anything about the average American returning to equities? That is a job for Hedge Funds.
Just like the nasdaq run to 5,000. Smart money short at 2500, smarter money short at 3500, smartest money short at 4500. 5000 took them all out. The market will confound and confuse the most sane man until he is dumbfounded. The market is irrational and in retrospect this 'rally' is going to look soooooooo foolish. But the question is when? Greater Fool -- part 2 USA 2011
Right you are sir. But, what is this "market" you speak of? I believe it died in 2009.
Sorry the markets died in 1982 when the 401k / IRA programs started !! Check historical graphs on a linear scale and see how the middle class has been skinned and boned ever since.
The volume is so low. Most trades are just liquidity rebate trades- not for profit or cap gains but one server sending a share to another server for like .25 cent rebate. Thats about 60-70 % of the " trading"
Volume overall- servers or not- is at amazing lows.
So, its not hard for the POMO money to come in at end of day and mai tain any asset value determined by the FED. Target asset value is 2006 prices- period.
Volume on the NYSE was 4 billion shares for lows but its still getting lower. So, if 70% of that is rebate liquidity trades, basically the market is on life support with a jolt here or there to move it up.
Plus, if banks are buying equities, they are using free money by trading in bad mortgages and debt to the FED for cash. In exchange they are not allowed to sell hard into the market. Lets face it, even losing 70% on an equity is better than having a zero valued MBS.
They are not allowed to sell, period.
Any selling are hedge funds, which are slowly getting driven from the market as they profittake. At some point, there are no retailers left, and banks are holding it all.
The banks are trying to get stock values up and slew them off in a buy panic. But retailers are having less money as unemployment continuesand they dive into their 401ks.
Going long until DOW 14,000 is probably a good idea, but I'm not interested in the stock market anymore. Its all a hologram- a sham- a good scam for banks and brokerages for 30 years as they extracted lension money and retirement savings. It was a way to steal money and savings from the masses as a " good longterm investment."
Investing, capitalism, formally died when the yiled curve shat a brick in 2007 and inverted.
Now we are in a Soviet style control economy- centralized price controls and values.
Real longterm value would be to let assets fall to their angle of repose. Then I would buy long. Average share is now held for 20 seconds. In and out. A stupid game
The Stock Market has become like a Soviet Controled market. The FED is controling the price of Stocks. Yet, not doing anything to stimulate the Economy for the Average American.
The FED has literally engaged in Soviet style price control especially with the Stock Market.
I go with Lennon Hendrix on this. It's not the value of the corporations going up, but the currencies going down. Where he goes wrong is thinking this leads to a permanent state. When they succeed in destroying global currencies, global corporations will be sucking wind.
I hope you are right. Corporations can however donate as much as they want to politics now, and they will continue to try and buy the world.
you told the board earlier this week not to fight city hall. those were your exact words. even on the day the market was flat you said the bears were blowtorched. then, you said the consumer was back and pasted several big retail stock charts so everybody would be sure to notice that you had made a new post. but wait, now you tell us you're trying to pick a top.
additionally, you told us the silver and gold rally was over - again, your exact words - and to get over it and admit defeat. now you tell us that gold is strong and the gold bears are about to get "blowtorched" - that's one of your favorite words isn't it? - if the 21 day is taken out. ditto for oil earlier in the week.
amusingly, as you tell us in the first paragraph of this post that you're trying to pick a top, you later poke fun at the protraders who have gotten it all wrong this year by fighting the tape trying to pick the top. kettle, pot, whatever. so after trying to tell us you're trying to time the top you spend the rest of the post telling us how everything is rosy, and how the bears are getting crushed.
like i've said before. you don't believe your own writing.
robot trader is always on the right side of every market and every trade....he likes to play a role that irritates people from his board and care home paid for by SSI disability. in his case, the entitlement robot trader recieves is 100% justified
I agree with hendrix. It's just a bullshit inverse relationship. Worthless asswipe chasing stock.
I am preparing. When the selling starts, there ain't no shorts standing in the way. Eventually this mf'er has to collapse. Great piece by Harvey Organ dispelling some of the wtf thoughts I've been having at the bottom of the link with a poker player introduction. http://thecivillibertarian.blogspot.com/2011/02/important-news-roundup-f...
When the Fed announces rate hikes everyone will wanna move their stock gains into bonds then you will see the market top. The end of QE will sideways the market.
The dollar will cease to be a fungible asset/medium of exchange by the time the Fed raises rates.
When Erin Burnett's smile gets turned upside down.
" Meanwhile, macro traders with a bearish bias sit back, slackjawed in amazement, wonder how the S & P 500 can rally 100% in 2 years with no jobs, no recovery, rocketing commodity prices, and rising interest rates."
Don't the markets discount the future?
Investors who buy and hold take volume out of the market. Those shares don't get traded as often. Less supply equals higher prices.
Traders like volume and volatility. Is it the traders who are the suckers? Are they selling to the big money investors. The spikes in volume on the short selloffs have been met with high volume buying for some time now.
Look at the Brent/WTI spread. We are getting RELATIVELY cheap oil. That makes us RELATIVELY competitive. It gives us a "comparative advantage", for all you Adam Smith buffs.
The market is never wrong. Right???
Always try to figure out who the sucker is. If you don't know who it is.....
Some thoughts,
gh
Normal markets, yes. This one, not so much.
"Thousands of hedge funds anxious to "make their year" by nailing the next top and riding the next bear cycle."
That's why this market is going to melt up. Your question should be, when are we going parabolic?
When the IMF/World Bank roll the dollar up and smoke it.
Tomorrow!
+ the price of tomatoes 12-31-2011
Maybe Axel Weber knows the answer already and is the reason behind the surprise resignation.
And by the way. When "everybody" expects something, it usually don't happen.
"Everbody" expects inflation to kill the economy.
"Everybody" expects the stock market to crash.
"Everybody" expects bonds to crash.
etc....etc....etc....
gh
Everybody? When everybody reads this blog then maybe you will have a point.
"Everybody" expects to pay their taxes
"Everybody" expects a huge deficit
"Everybody" expect to eventually die
etc...etc...etc...
But, damn! Robotrader, I can't argue with those pictures!!
gh
Forget about technicals, or anything else.
It seems to me, that every correction over the last three years of 10% or more has been mysteriously correlated with a political event, like needing to pass a financial reform bill, needing to pass a stimulus bill, etc.
So, my call for top is when congress starts debating the debit celling raise, and it looks like they are loosing the vote.
Expect another flash crash to focus Congressional attention on raising the debt ceiling, which is just political eyewash anyway.
Next week or latest end of February. Its already superexponential, the growth. Growing instability in the Middle East, Strong USD plus increasing oil prices must do it. Plus China's actions to curb growth. Plus end of nice profit statement season. Plus fiscal restraint. Plus inflation data.
The Chart is here of how it may look in 2011-2012:
http://saposjoint.net/Forum/viewtopic.php?f=14&t=2626
Fiscal restraint?! Gimme some of what you're smokin'! :>D
So all we can do now is to watch and wait. There are millions of eyeballs watching the exact same thing I'm watching. Thousands of hedge funds anxious to "make their year" by nailing the next top and riding the next bear cycle.
It sounds so easy - just watch the charts. Why then did 99.9% of investors (including many of the "thousands of hedge funds") take it up the ass during the 2008-2009 downturn? and the 2000-2002 downturn?
I'm with cocoablini on the volume thing. And I'm staring as slack jawed at the market as I was in late 1998. Bailed out in the summer of 99 and into gold and silver. Been sitting there for a while now. I like to gamble, but only when the house plays by the rules, so I get my thrills in Vegas.
Oh, and the first pic is a serious one bagger. But I'd sure love a frontal on the second one...
BTW, if you have any good volume sector charts in your stash Robo, would love to see them.
Not amazed anymore. Moved on
I thought I was jaded too, I think that is why Robo includes pics of chicks.
Really? People are 'wondering' how? People are amazed?
Fucking please, stop it. Nobody is sitting around scratching their head and twisting their mustaches trying to figure this out.
You continue to play this as if it's really actual buying interest or real-living-breathing human interest.
Get the fuck out of here. I'm sick of your garbage.
It is always good to hear semi-well reasoned alternative viewpoints. Why are you so sure that it is some kind of conspiracy or manipulation (other than the indirect manipulation of monetization)? Is this a matter of faith with you or do you have hard evidence?
The end of this won't be pretty. Just signed up here...
WWW.collapsenet.com
Not long to the top .......and the abyss the other side :((((
Where anyone gets Fed manipulation i don't know! The Indexes have been rising on ultra low volumes (fumes). Volume only shows up on the sell side so if excess money is anywhere it's selling, the complete opposite of this Fed myth and fixated conspiracy theory. The Fed couldn't run a lemonade stand on Saturdays let alone stiff a market!
Their counterfeit money is all being used to prop up bankrupt Big Govt and bankrupt Big Banks (mortgages, derivatives, bad consumer loans etc). There isn't any left to pump the Indexes. Period.
OK, you're really starting to piss me off....
You got the "zero govt" handle, the anarchy heart avatar, and the rhetoric of a government shill.
Since the March 2009 low, 8.8 TRILLION have flowed into US equities. So please explain where that $8.8T came from, and where it was before.
I just hope someone is paying you minimum wage to post this nonsense...
I'm "starting" to piss you off because unlike 99% of the population I don't believe in the power of the Fed or the PPT for that matter either. You are probably like those 99% in all hating the Fed and its policies but secretly bow down to its power, you are true believers and worshippers at the alter of Govt power.
I suggest you look at the history books in all matters Govern(mental). They cannot and do not control anything, they re-act to the last event and try to 'solve' something that's past. Their future management skills are a joke simply because they are unable to predict the next event (their projections are always out) and are surrounded by crones saying "don't rock the boat, all is well !!"
Regards the $8.8Tn flowing in this is an absolutely normal dead cat bounce rally from the 2007 collapse. Check out your Fibonichi ratios. Govt does not and cannot alter the markets natural paths and cycles, it hasn't the money to out-gun and out-manouvre private sector money flows (see also all vein Govt attempts to control their currency rates - 100% failure rate).
Don't read too much into my avatar, the 'Zero Govt' says it all... and sorry to interrupt your worship time to the Fed and tell you your God Govt is powerless (and dead). You lot piss me off not understanding the fundamental lessons of history
hey robo, i think your fat lady in the middle picture, is singing........
lalalalalalalalallllllaaaaaaa†
She does!
Camel Toe ;-P
Ohhh! I missed that! Had to go back and look. thanks for pointing it out! God loves man and the proof is that he created beer and the camel toe.
When Is The Market Going to Bottom Out?
Perhaps a far more profitable endeavour and so much easier to answer since more indicators work at bottoms than tops. Two very significant US bottoms in last eight years. US is less than thirty percent of the global equity market so keep a wide focus for equity opportunities if they interest you.
i don't want any more paper---thats all a stock certificate is---it sure won't finance my retirement
geez our corps send all the jobs overseas....think they are going to distribute their huge market caps to mutual fund holders when they retire? its a fucking game to leave joe schmoe (and robot trader) holding the bag
charts + porn = chart porn
Robotrader for president!!
thats quite an insult to robot trader
The only previous time the S&P doubled in two years was 1935-1937.
(Before 1957, it was the “S&P 90”)
For more high-fashion:
http://www.dataste.com/blog/wordpress/?p=881
I think Bennie knows that too. That is why he can't stop now. He thinks money tightening was the reason for the second leg down in the great depression.
Past doesn't predict future in chaotic system. The chaotic system is non-linear. We do know there 4M mortgages 90 days or more past due. These all will be foreclosures, short-sale, walk-aways. 4M! Banks???
A "crack" in the Fed's meltup "dam"?
Black Swan looming?
Mideast unrest with spillover into Europe and USofA?
Why is it that everyone can't focus on the real problem, which is the top 1% of the U.S. population running banks, large hedge funds, Goldman type companies and non tax paying corporations, like google, who have sent the jobs away and skimmed off more then the cream at the top, but almost everthing else too...Restructure the top banks, taxes and 10,000 BS artists go to jail, recover the money back , give it to the public it was stolen from AKA Madoff trustee grabbed 7.5 Bil from one dead thief and the problems go away.
The wild west was like a game of checkers, compared to all the crap and out right theft, in the last 20 years.