Morning Post 02/02/12 #SPX

There really is not much to talk about unless if you want to speculate how big the haircuts from the Greece deal are going to be? How long till the Greek crisis has some sort of resolution? Can there be resolution? Who's gonna provide the funding? Will they simply default and what are the ramifications of a default? This drama has been going on for several years now. What used to be 1 year periods between funding crisis dropped to 6 months and is now almost a monthly event. At the same time the costs just keep going up with each round of funding. We here at STB knew it was a never ending spiral of debt early in the game, but they had to save Greece for some reason.

All that said, all traders can do is sit and wait. It appears the central planners have learned there are benefits to markets in perpetual limbo that are kept guessing as to whatever crisis resolution of the week is in play. I have a funny feeling thee volume less markets are focusing on the right hand of the magician while they need to see what's happening in the left.

Afternoon Delight 02/01/12 - Ragin At The Machine

Ragin at the machine can get old and tends to wear on you after time (both reading and writing). The emotional swings one goes thru watching your country, future and everything around you permanently relying on intervention to save the day all the while waiting while knowing total implosion is one default away. Remarkable times we live in. Have no fear, STB will won't stop ragin till ACTA or SOPA pull the plug (that is here at least).

The crony capitalist system is in full control, printing when they need it, controlling the government to remove what little roadblock regulations (Dodd/Frank a tragic waste of time) are remaining and the MSM to sell whatever angle needs to be transmitted to the sheeple.

Here is the full control example - For those of you that don't quite "get it", lets start with this video explaining the dire circumstanced that lie behind the Greek /default/bail out deal. Jim does a fantastic job explaining why the system can't fail till it does. Breaking News Ellis Martin Report with Jim Sinclair - YouTube (h/t lurker Susan)

Morning Market Summary and Charts 01/26/12 #SPX

I think I have a FOMC hangover. Like I got absolutely pummeled yesterday on hopium and am waking up today wondering what the hell happened while I was passed out. It was a normal day and then the Fed spiked my cocktail. Then this euphoric nightmare happened. The Fed spoke of ZIRP to eternity and conditions that warranted serious monitoring, but thru all the warnings and awful news this angel appeared. I thought it funny she had a pitchfork, horns and a tail, that's meaningless. She brought 'accommodative policy' with her and all of a sudden the skies turned bright, Wall St. rejoiced and all fears of market weakness were immediately erased.

When I finally came to, I realized this was not a hallucination or a dream. It is the new reality. A centrally planned crony capitalist cleptocracy now rules the globe. Nothing matters anymore other than maintaining the markets lofty levels while the wealth transfer from the poor to ultra rich accelerates. Whether right, wrong or indifferent it does not matter.

I've explained this for years now and you have to listen and believe. All that stands between the government/Fed/crony system and the public going totally ape is the illusion that the stock market is healthy and your wealth (what's left of it) is just fine, growing and safe. A failure of the stock market leads to the failure of everything at this point. From the complete pension system to what little privately held wealth is left, they are hanging on by any means possible at this time, cause when the markets go, so does everything else.

I am still taken back by their audacity and the fact that this is actually happening to America. The special interest controlled congress has effectively deregulated everything and the horses are out in the pastures running wild. While we live in a society with ever increasing controls and laws, the crony capitalists represent a Teflon Don (Corzine) that can do what they want without fear of any repercussions. Whatever it takes no matter the cost to keep the system going is the only rule for them now.

Morning Market Summary and Charts 01/24/12 #SPX

Isn't this nice to wake up to : Guest Post: EU Finance Ministers Push Through ESM Treaty in Fishy Fly-by-Night Move | ZeroHedge

"RED ALERT TO EVERYBODY INTERESTED IN THE ESM: THERE IS NO CURRENT VERSION OF THE ESM TREATY AVAILABLE!!!

Europe's most important treaty on the European Stability Mechanism (ESM), which will lead the EU into a financial dictatorship, has been pushed through by EU finance ministers late Monday evening.

But the latest version of the ESM cannot be found on English and German EU websites. A link on consilium EU only leads to a 'file not found' message and the German EU website "Europa von A - Z" does not mention the ESM at all. This reminds one of the secrecy around the Federal Reserve Act, that was pushed through in 1912. Is the EU Commission now playing the same fishy game 100 years later?

Media reports from last midnight only said that the ESM treaty was agreed on by EU finance ministers and mentioned January 30 as the date when the treaty will be officially signed."

Of course the markets do not care about such things as liberty and freedom, those are purely secondary items to the big grab and perpetual printing. This will most likely be another banksta/elite/central planning favored treaty that further en debts the sheeple to serve the system (dent slaves) that favors the richest of the rich and their henchmen.

Afternoon Delight 01/23/12 - It Is A Long Way Downnnnnnn

What can I say, emotions are thru the roof. It has been some time since the rhetoric across the financial blogs has been this testy. It is even bleeding over to the MSM (who are learning that the web is the best source of real information). Call it consensus disbelief.

It actually may be worse now than anytime in the past as even more have bought their tickets and are on the HFT/QE manipulation train. Even more are on the "we're all gonna die anyway so why are we bailing out everyone so what does it matter anyway" story, so why the rampage?

Those situations make my blogging a bit easier as I have been on the manipulation train and preaching it for years. Some thought I was nuts (some - the lost - still do). The sheeple and even some major players are coming around and beginning to voice their disbelief which is quite the change of events.

Morning Market Summary and Charts 01/23/12 #SPX

Well, we have arrived. The week STB has been pointing to for almost a month now. We've made it thru the early earnings and opex, now it is time to get the FOMC meeting, AAPL and the Greek PSI out of the way so the markets can do what they need to, correct or worse.

Minis /es 30m - As I have been noting, yellow rising channel (bullish) is trying to give way to the green rising wedge (bearish) as the markets try to roll over. STB has been spot on with these diagonals all month. That upper heavy red diagonal is resistance off the 1370 top. Pay close attention to that point (1322) if it should get close to it. I see no reason to get excited about anything till the lower green wedge support diagonal falters. Another thing is that diagonal needs to fail with flair in my opinion. The bears need a decisive point that marks the turn. As mentioned last week, the form of the fall, does it have substance, will be very important.  

Morning Post 01/12/12 (SPX)

Well, the minis got a higher high last night and as discussed here over the past two weeks the trend up into the FOMC meeting (as markets tend to do) remains intact for now. Stopping 2.5 points shy of the 1300 round level, the minis pulled back on the data this morning. Jobless claims get back to 399k (which will be revised over 400k as is the standard). Gee is that a surprise to any of you reading this? EU rates remain unchanged and they did not ease but will most likely begin printing again in February (thus the pop in the futures).

So, The jobless claims increase 25k and the markets pull back all of 7 handles? Really? That should have been a 20 point thrashing as the "recovery" takes another body blow. I'm sure our president did not like hearing that news. This also makes me think that whoever controls this number would like a new leader for this country after this next election (you have to connect all the dots).

My morning post yesterday was really the most comprehensive market position chart you will find on the web for this time. Everything in it will remain in play for at least another week if not thru the FOMC meeting and OPEX as these markets churn out this top. My Is Gold About to Collapse? post yesterday drew quite a crowd. You may want to see that one as well. It ties nicely to a potential coming collapse in equity markets.

Afternoon Delight 01/10/12 - Total Despair

What is not surreal these days? I report on varying topics nightly that are mind blowing in the sense that they can't be happening but do every day. I'm not talking about bungee cords busting or Beyonce's baby. I'm talking about things like insolvent banks running the worlds governments. Out of control governments printing and spending money like there is no problem with that. The Fed and Treasury in cahoots with Wall St. and the government to rig the equity markets to give the illusion all is well. The US government (or any for that matter) intentionally distorting economic data to give the impression that we're recovering from the recession. The US becoming a massive police state where breaking wind will be a fineable offence and they will have the detection equipment on every street corner and your DNA to prove you did it. Heck that is only in the US and I'm not going into global events.

Welcome to a centrally planned state where you no longer have any control. What is really freaking me out is that we'll most likely have Mitt as the next president. What is surreal?  The  fact that Obummer is even being considered as a candidate who has raised more money than anyone else (think about that for a minute) when Americans, 2-1, Fear Obama's Reelection. The fact that Mitt is a carbon copy of Obummer scares me the most. They all are carbon copies of each other (except Ron Paul which is why he's so scary - Oooooo). Plug-n-Play presidents that will do whatever the establishment wants when they hit the oval office is all this group of candidates are (Note: nothing related to the presidency here gets capitalized anymore). Nothing but lipstick on a new pig.

We are so, so, so screwed - 

Open Weekend Post 01/07-08/12

You know what to do, share the love and the knowledge. Remember this is the year of involvement on STB. Everyone needs to talk up the challenges we are facing as a nation and a planet and get the word out to as many as possible.

This weekend I will focus on a man who's opinions I have come to trust and value greatly. Read about Dr. Paul Craig Roberts (PCR) here. His experience and resume are very impressive, "President Reagan appointed Dr. Roberts Assistant Secretary of the Treasury for Economic Policy and he was confirmed in office by the U.S. Senate. From 1975 to 1978, Dr. Roberts served on the congressional staff"

Dr. Roberts has a wonderful post I would like all of you to read. The Dismal Economic Outlook For The New Year - PaulCraigRoberts.org. Do you like the title? LOL, what else would I deliver, right? No, I am not sick, just a realist.

Morning Post 01/06/11, SPX

OK, so things are not adding up. Should the Lemmings be running in or is it that all the Lemmings have leaped off the cliff? "Investors pulled an estimated $132 billion from mutual funds that invest in U.S. stocks, the fifth straight year of withdrawals for domestic funds, according to preliminary data from the Investment Company Institute, a Washington-based trade group whose numbers go back to 1984. Withdrawals reached $147 billion in 2008 when the Standard & Poor’s 500 Index fell 37 percent, including dividends." U.S. Stock Funds Have Second-Worst Year - Bloomberg

Who or what is left comprising the markets these days is quite the mystery. We know the MF Global clients are out, but their money is still in (somewhere - no one seems to be able to find a billion dollars of "lost" investor funds). We know that there are trillions of QE dollars still out there. I really have no clue who or what outside of the Central Planning cabal's tentacles is in or out of this market.

Morning Post 11/18/11, SPX

Well, surprise, surprise, surprise another crisis averted (for now). The frequency of these events that used to be spread a year apart are now occurring in near weekly fashion. It won't be long till they don't avert one. The methods for each stick save are becoming increasingly adventurous as well. With Germany not willing to go all Wiemar again and China keeping its wallet in its pocket the end game seemes upon us as the lenders of last resort fall by the wayside.

In European Banks Find Depositor-Of-Last-Resort. For Now! | ZeroHedge has, "In our ever-so-humble opinion, this should be added near the top of the list of crisis canaries-in-the-coal-mine as the cracks of desperation appear more and more across the largest and most-levered financial firms in the world." This should scare the hell out of you after the O-MFG crisis and all the news in the AD last night.

Afternoon Delight 11/16/11 - CRACK!

OK, we opened this morning with the news There's Your Official Warning From The Fed | ZeroHedge. Then later in the day we received Fed To Hike Current Coupon MBS Margins | ZeroHedge. As I said earlier, if the Fed is dropping into protection mode, then you should be as well. Following the Fed's moves has been the key to everything in this market for the past two years. Now is not time to change strategies.

I often speak of corruption and fraud (OK, I do it all the time), and there are some out there that just don't get it or believe me when I pen such things. As usual STB confirmation is always pleasing to hear. It is especially pleasing when it comes from the horses mouth. Please read the following two links closely.

This will give you a warm and fuzzy feeling. An Insight into Tim Geithner's Respect for Law and Constitutions from EconomicPolicyJournal.com gives you, "He said, in a somewhat irritated fashion, that "there are ways to get around these things". So much for constitutions. Then he added. "It's not rocket science [to get around these things]"." That's comforting to know.

Morning Post 11/16/11, SPX

The one bit of news that is screaming at me this morning - "But the move could provide an extra layer of protection for the Fed against the risk that a dealer bank goes belly up." Fed To Hike Current Coupon MBS Margins | ZeroHedge. Hmmm Fed moving into protection mode - maybe you should as well. STB is all about following the Fed. Maybe this is a signal that Duck and Cover drills should be put into practice.

SPX Daily - The most important thing to note here is price levels to lack of strength in the indicators. In almost all of the indicators below they continued to weaken as price set a higher low. Note the lack of strength under the 1220 low compared to the 1230 low. The CCI really stands out to me.

This consolidation I have been showing could still break either way. I lowered the blue wedge support diagonal on this chart effectively resetting the D point of the rising wedge. This may be right or wrong. For my drop, pop, diverge and fail scenario I still need some more upside. Bottom line is this market is always a rumor from a ramp and a default from a crash.

Afternoon Delight - 11/14/11

Nice quiet, dull, no/low news event day. Makes for a nice change.

UPDATE: Harbinger of DOOM - "If we continue to bail out banks and bankers so they can continue to lose money, if we cavalierly put this burden on the taxpayer, it is all too predictable what will happen here." Ron Paul: "It Is Estimated That US Banks Have Over A Trillion Dollars Tied Up At-Risk With German And French Banks" | ZeroHedge. And now you know why you keep bailing out the EU (with YOUR money) via the IMF, EFSF or whatever other under ocean pipeline they have to use. Remember the longer it takes for this to implode and the more money they throw at it, the worse the ultimate outcome. As noted here and on several other sites, the O-MFG, Jefferies, Barklays and today BlackRock events are all warning signs of what's to come. LEH will look like nothing compared to the next collapse.

I've told you for a long time that our financial and economic voodoo was the cause for all of this and that it would come back to haunt us. That time is apparently coming sooner than later. "Since the onset of U.S. subprime crisis in 2007, it was the country's domestic economic problems that triggered a disastrous financial crisis that swept the world. Excessive spending for many years has added up debts." Main China Daily Xinhua Pens Epic Anti-US Tirade, Bashes America As Source Of All Global Financial Ills | ZeroHedge

Morning Post 11/14/11, SPX

STB is still kind of speechless. Hard to believe isn't it. I went quiet Friday and stayed in my cave all weekend. May be it is utter frustration finally catching up. Have no fear, I will be here and speaking my peace till the end, but the recent idiocy of the global financial Ponzi/fraud really has me miffed. If any of us ran our financial house like this we'd all have been thrown in jail long ago.

I am still very bearish on November. My main opposition to the call is the EU illegally printing, the corruption and fraud continuing, the bots of course and the rumor mill that all will be saved. On my side is everything that is reality and the debt ceiling vote.

Morning Post 11/11/11 - Veterans Day - This Country is F'd Up!

Happy Veterans Day. Tho those of you with the day off enjoy the long weekend. Remember to thank a veteran if you see one for their service to our country.

"Veterans Day, formerly Armistice Day, is an annual United States holiday honoring military veterans. It is a federal holiday that is observed on November 11. It is coincides with other holidays such as Armistice Day or Remembrance Day, which are celebrated in other parts of the world and also mark the anniversary of the signing of the Armistice that ended World War I. (Major hostilities of World War I were formally ended at the 11th hour of the 11th day of the 11th month of 1918 with the German signing of the Armistice.)" Veterans Day - Wikipedia

I often mention that if our forefathers that fought for the liberation of this country would be rolling over in their graves if they could see this country today. Even some of the the current military don't like whats happening here now -

Afternoon Delight 11/10/11 - Just Numb

No comments from me today. I'm pretty much numb. Numb from the 1000th stick save. Numb from the "experts" that believe they can solve a debt crisis with more debt. Numb from the fraud and corruption that are rampant throughout the global system. Numb from the constitutional abuse and loss of natural freedoms as the police state expands. Numb from the reality that is Pen State. What have we become? Why have we allowed this to happen? Why are we doing nothing to stop it, any of it?

Market News -

"And now they are refusing to even acknowledge this transaction, and apparently the management of MF Global is not yet talking. Why? Because it was an insider deal, and they don't want to give back the stolen money." Jesse's Café Américain: MF Global's Customer Assets - STOLEN - And Nothing You Hold In This System Is Safe

Hey, if you don't want to hear it from me, then why not from one of the most conservative and respected money men of all time? Rogers: “100% Chance Of Crisis Worse Than 2008,” Italy Implodes Alex Jones' Infowars.

Begging behooves them. World has Major Funding Gap; IMF Begs Russia and China for Money; Italy and Greece Demand Deposits Collapse; Run on Greek Banks? Mish's Global Economic Trend Analysis

Morning Post 11/10/11

So, they threw a few buckets of water and calmed the fire down. Don't lose faith bears. Patience will be required. As you have heard me say many times, they are cornered and fighting with all they have to save whats left of an imploding system. Please see, Snap Reactions To Italy's €5 Billion Bill Auction, Which Reeks Of Illegal ECB Intervention | ZeroHedge, "since the ECB is prohibited by law from intervening in the primary, auction market, we wonder just what illegal backdoor funding scheme the ECB has concocted with friendly banks in order to have the auction price where it did, and how much money was transferred by back door channels to keep Europe from imploding one more day."

Minis Daily - Channels, wedge, support and resistance - it is all here.

Morning Post 11/09/11, SPX

Not sure I need to cover the why the market is falling portion this morning. Not sure Blogger allows enough character space to cover all the reasons. What you need to know is they can intervene, but they can't stop it. Think about an "inevitable" situation in your mind. Go ahead, find one that you can visualize, and picture the slow, long, agonizing demise to utter and complete failure.

I picture skydiving and your first parachute was tangled, so you had to go to the backup chute. You pull the backup at 10,000 feet and notice it has a small rip.  Now picture that rip slowly growing and your decent picking up speed. At some point that chute fails and you are in free fall. Welcome to the euro zone and the global financial systemic collapse. At this point we're already on the backup chute and that rip is growing. The free fall part .... I think you get it.

I say I think you get it, but then most really don't. They can't wrap their minds around where we're headed. They see the markets and never ending intervention and something saving the system. It is like a really well scripted Hollywood horror show, except in this one, no one survives except the boogeyman.

Afternoon Delight 11/08/11 - Asteroid Edition

All I can say is that it is a good thing NASA does not hire FRB economists to do their math for them. Let's hope and pray this group at NASA is the only government group we can count on to do reliable math. Once decimal off on this one and it would be catastrophic. Look up in the sky. It is a bird, no it's plane, no it's Bernanke, no it is a really big rock on a near collision course with earth. I have to ask the question - What if they are lying about this as well?

"Fortunately for us, NASA predicts the murderous cosmic body will miss our planet by about 202,000 miles, passing around 6:28 p.m. on Tuesday. That's about 0.85 times the distance to the moon, NASA says. The last time an asteroid this size came this close to Earth was in 1976, and it shouldn't happen again until 2028 -- provided we're still here." Massive, unstoppable rock hurtles toward Earth - WTOP.com.

Market News - Ramp on!