Thursday, April 1, 2010

SPX Falls To 750 Overnight, Morning Post

It was amazing. Greece defaulted, the EU imploded, and the printing presses in the USA all busted. The Patty wagons showed up and arrested everyone in Washington (literally everyone). It was an amazing night. Sadly, CNBS got caught up in the flurry and in a dramatic case of spontaneous human combustion all the anchors turned to dust when the reality that the rally was not real hit home.

The wedge - Well the unthinkable may just happen. If you look closely at the e-mini chart below there is a little blip coming out the top of that blue wedge. Could the Easter Bunny come early? Well, that wedge may target as high as 1190, BUT wait, what if it is an E throw over fakeout? They would not try to fool you like that today now would they? I don't trust 'em.

Bottom line is that the recession is over. Put down your guns and pitchforks and give your representatives and bankers a hug. It was all a bad dream and without their leadership we never would have gotten out of this horrible mess that we got ourselves into. We should be thankful to our "president" for bringing us this great health care bill and for his continued persecution of those that took advantage of the crisis for their personal benefit.

The Easter Bunny called last night and warned that those golden eggs may include tungsten. Something about the supply of gold or imbalance to how much exists versus how much has been pulled out of the ground. I could not understand him. He'd obviously been in the sauce.

Have a great holiday! Shanky will be reporting from hopefully sunny and warm Seaside, Fl next week, so postings may be sketchy, but they will happen. Take care and lookout for the fakeout!