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The only thing that will rally the market is another bailout rumor. Nobody asks who's going to pay for it.

It's only a matter of time. 

With MSM reporting the seasonally adjusted first time unemployment claims down by 6,000, it's time for a reminder that this number is fake.

The market has begun to choke on the additional Treasury supply dumped on it by the foreign central banks (FCBs).

So, where else are people going to put their money if not into US equities?

My daily charts are mostly long, so I'm ignoring them.

Well, a few potential "red flags" are posted below....

The most bullish thing that could happen is for this system to come to a final end.

About 6 weeks ago, something changed.

Anyway, the short story is that, after seeing the S&P fail at the 1,200 level 5 times in 8 weeks, we take the opportunity of another run-up to take a short position.

It's all code for German backstops, which begs the question: How exactly are things going for Germany?

Do I have a lot of confidence in this outlook? Uh… no. 

Bankers have made and sold trillions of dollars worth of loans that they knew, or should have known, could not be repaid. That’s fraud. It must be prosecuted.

The system doesn’t work, and they don’t want to reduce this to a set of technocratic little fix its and paste-its.

Wake up as many people as you can.