I'm slightly pissed this am. Well, does the second run on a BS rumor in a week really surprise you? Yup, it happened again. The market goes nuts on "rumors". Friggin Rumors? That's right. We've now entered a state where all it takes is for some floor trader to break wind and the market reacts like someone lit a fire under it. ZH brings you the details in their own unique way in The Scamming Of Investors Continues, Courtesy Of The Rumormill Formerly Known As The Equity Market. I'll put it this way, if they have to resort to possibly releasing speculative information (obviously information from reliable sources to people who are in the right place to move the market) then they are in deep trouble. Have the PPT's pockets run dry? The real problem is the SEC's lack of concern and the fact that this occurs so easily. Folks, this is the BS your markets have become.
On to the markets - Minis flat, markets overbought (that is a slight joke cause you know that I think every gain since April is fraudulent) and now markets are capable of a rumor driven ramp job at any moment to benefit the banksters as they have gone from taking cash out the back door on hand trucks concealed in some way to simply loading pallets on forklifts and taking it out the front door (this is your money by the way in the form of future tax liabilities).
After the move yesterday, I'm not all that inspired to give any sort of analysis. Why not just title my post - Morning Post - Another Ramp Job Today and be done with it? This shit is gonna bite them in the ass. Sadly, it is gonna bite you and me in the ass even worse when it all ends.
In protest of the government's (to many to list here) problems and inability to regulate anything I am not doing an analysis this am. Why should I? Isn't it painfully obvious that they know the market is bogus and are pulling out every stop to keep the levitation act going. Every BS move like this is a PUMP designed to suck in more of your money so they can DUMP. This is a suck job that Jenna Jameson would be proud of, yet sadly the benefits are not nearly comparable.
If you would like to see my charts go to the link to my chartbook on the right or click HERE.
Yes, I shorted (very lightly) late yesterday and was bold enough to swing it. FAZ and SDS. I will not stay around if they drop one cent under the purchase price.
It is beyond time to get active and do something to wake the sheeple up. Get active. Spread the word. Talk it up. Send emails with links to articles (or this blog, Mish, Zero Hedge, Denninger, Alex Jones - All links on the right in the blogroll). Let others know what is happening. Now is the time to be mad as hell while we may possibly still have a chance.
GL, you will need it.
Last night I included "Stop the Health care Takeover!" Petition to the U.S. Congress. Mish posted this last night -Pelosi: We have to pass the health care bill so that you can find out what is in it - you have to hear it to believe it. This shit has to stop.