Well, in spirit anyway, I wish you a happy 4th. Sadly this is not a time to be celebrating as the liberties and freedoms that our forefathers fought and died for are falling in vein. This holiday always seems to bring the best out of me - if you have never read any of my 4th rants, please follow the links. I think you will enjoy them.
Here is my 4th rant from 2011
Here is my 4th rant from 2010
Here is my 4th post from 2009 - a much more innocent time on the blog.
As for this year, I'm sadly too busy on vacation to get a post up. I'm not sure what I would have to say that would be any different than in the past two years, so go read those spirited posts.
Have a great 4th everyone and thank you very much for your continued support and contribution to the blog.
Showing posts with label shanky rant. Show all posts
Showing posts with label shanky rant. Show all posts
Wednesday, July 4, 2012
Thursday, March 15, 2012
Morning Market Summary and Charts 03/15/12 #rant #SPX $ES
Caution - I went old school - foul language ahead!
Anyone else out there tired of all of this BS? Seriously, the constant rumor of QE (or actual stealth QE), rumor driven, LTROed, cash pumped, BLS BS, recovery crap that has this market in the stratosphere where we all know it does not belong? I sure am. I know a lot of you are as well.
I don't know what the proverbial bottom line is anymore. They keep changing the friggin rules. Seriously, can there ever be too much debt? You have to wonder (not really, just sayin). How much is too much? The world was gonna end when we first crossed the unthinkable $12 trillion in debt. Now here we are a few short years closing in on $16 trillion and the markets are where? What are the growth projections for debt over the next 5 years?
Anyone else out there tired of all of this BS? Seriously, the constant rumor of QE (or actual stealth QE), rumor driven, LTROed, cash pumped, BLS BS, recovery crap that has this market in the stratosphere where we all know it does not belong? I sure am. I know a lot of you are as well.
I don't know what the proverbial bottom line is anymore. They keep changing the friggin rules. Seriously, can there ever be too much debt? You have to wonder (not really, just sayin). How much is too much? The world was gonna end when we first crossed the unthinkable $12 trillion in debt. Now here we are a few short years closing in on $16 trillion and the markets are where? What are the growth projections for debt over the next 5 years?
Wednesday, February 3, 2010
Mini Rant Time! Let's Fight The Beast!
You all know my blood pressure rises and falls like the market. Not necessarily in tune with the market but in tune with the stupidity, audacity and incompetence of the actions of our fearless leaders. I watched a vid on Mish's site earlier today that got me thinking about where I stand on many issues and questioning where I have been. I do not know if you are a Democrat, republican, liberal, conservative or independent. Quite frankly I don't think it matters anymore. Sure we all have our pet peevs and individual beliefs, but time has come to set those aside. I believe we will all find out soon enough that the oysters in Apalachicola, watching American Idol or getting the best football recruiting class are not nearly as important as say ... eating.
The one enemy we all have in common is the beast that is our government. The beast is now out of control. This beast has morphed its self from three beats into one three headed mega beast. The banks, the Fed and the government are now all one functioning unit.Over time greed and power have permeated the system to a point that it has become a self serving unit that no longer serves the people. It serves the special interests that drive profits and wealth creation (think money, food and medicine). It serves a state that will use any means to (in the name of peace) ever expand its boundaries of control and influence. It now exists to become more powerful and control the world. The most successful country in the history of the world has now OD'd on it's own greed and can no longer function in any moral or respectable manner.
I am a firm believer that the system is truly off the tracks out of control. It was on two wheels in the "original" bubble burst in 2000. We had a chance to get all four wheels back on the tracks, but the banks had lost so much money Greenspan "had" to come to the rescue. This was the birth/morphing of the beast. Thus our fate was written in stone and the system went off of the tracks and is now (whether you know it or not) airborne off the side of the cliff.
The credit crisis has its roots in fraud and self servitude that go back to the early 90's (for this arguments sake and leaving the Creature from Jekyll Island out of this post. I support End the Fed). What they have created for their benefit has grown to be more important that the whole, than the nation. Why? Cause it now has the power not only to destroy the nation but every financial system in the world. The financial arm of the beast has taken control and will not yield it's power to anyone. We are getting the big fuck you right now from the financial warlords that own you and me and in a rather sneaky way have made us their slaves. Was this planned? Was it inevitable? Possibly, but that is another post. (Think Rome.)
Can we fight the beast? Absolutely. We are the life blood of the beast. We are the oxygen flowing thru the arteries. We are the spending and working (taxable) machine that gives the system power. Without blood the beast will die. We must now at this time find a common good. A common ground to stand on where we all as carbon based life forms come together and set aside our differences of opinion and belief. We must morph now (yes, like the Power Rangers did) into one great beast to stand against the system. We must begin to function as one. We must learn to communicate and effectively transfer information and knowledge to one another. Most importantly we must get off of our lazy asses and get involved to represent ourselves as a unit.
If our Armageddon is not written in stone already (which it may be, the desecration of the Constitution, fraud, lies and manipulation now seem to be daily events), we must fight as one unit and not in splinter groups managing various wars. Cutting off the beast's hand does no good. (figuratively speaking of course) We must aim for center of mass with all our firepower. Move your money was a great start and Tea Parties are good, but they will not be enough. I believe we the only way to defeat the beast will be some form of total revolution. A global financial revolt that literally stops the system and forces it to serve our interests.
Wait Shanky, total revolution? Yup, I think so. The only other HOPE is that we totally revamp Washington. Frank, Pelosi and the ruling elite must be removed. Strict regulation must be put in place. The Fed must be abolished. the Constitution must be restored to it's original form. All that and more must be fixed before we can even consider SS and health care issues. The system is out of control and run by the elite banksters and special interest groups that are drunk on power, greed and control. The literally don't give a shit about you or me. They are a parasite. They are the cancer.
To those of you questioning this (and think I'm a nut) just wait. The impending collapse of CRE, the further collapse of RE and the collapse of their last bastion, the markets, will send us over the edge. Impending higher taxes, further job layoffs, wealth destruction/transfer (to the banksters), pension/SS/medicare failures among many other factors will drive us over the edge.
We no longer have a iron in the fire yet we the people continue to be the lifeblood of the machine. Only we can stop it, and we must act as one for we are the machine. We have lost sight of this. We got caught up in their game of chasing the golden ring. We went to their casino and came out massively in debt. We have lost all concept of what it means to be an American. Our forefathers had to fight for everything. They built this country with their blood, sweat and tears. They fought and died for us to have the right to be free.We have not built jack shit. We have become some sort of parasite as well. It is time to wake up and fight. time to exercise the freedom and rights bestowed upon us. Some generations had it easier than others. It is our turn to make America great again.
It will take a total meltdown to remove the cancer. We will have to start all over again to get it right. BUT, will we (as we always do as a society) accept less for the sake of convenience? Let them have their power so we can have our big screens? do we concede for the sake of convenience?
Here is my question, do we want to slash a few arteries or do we go all out and starve the beast to a point of weakness that it will yield control just to say alive? I say we aim at center of mass and starve the beast.
The one enemy we all have in common is the beast that is our government. The beast is now out of control. This beast has morphed its self from three beats into one three headed mega beast. The banks, the Fed and the government are now all one functioning unit.Over time greed and power have permeated the system to a point that it has become a self serving unit that no longer serves the people. It serves the special interests that drive profits and wealth creation (think money, food and medicine). It serves a state that will use any means to (in the name of peace) ever expand its boundaries of control and influence. It now exists to become more powerful and control the world. The most successful country in the history of the world has now OD'd on it's own greed and can no longer function in any moral or respectable manner.
I am a firm believer that the system is truly off the tracks out of control. It was on two wheels in the "original" bubble burst in 2000. We had a chance to get all four wheels back on the tracks, but the banks had lost so much money Greenspan "had" to come to the rescue. This was the birth/morphing of the beast. Thus our fate was written in stone and the system went off of the tracks and is now (whether you know it or not) airborne off the side of the cliff.
The credit crisis has its roots in fraud and self servitude that go back to the early 90's (for this arguments sake and leaving the Creature from Jekyll Island out of this post. I support End the Fed). What they have created for their benefit has grown to be more important that the whole, than the nation. Why? Cause it now has the power not only to destroy the nation but every financial system in the world. The financial arm of the beast has taken control and will not yield it's power to anyone. We are getting the big fuck you right now from the financial warlords that own you and me and in a rather sneaky way have made us their slaves. Was this planned? Was it inevitable? Possibly, but that is another post. (Think Rome.)
Can we fight the beast? Absolutely. We are the life blood of the beast. We are the oxygen flowing thru the arteries. We are the spending and working (taxable) machine that gives the system power. Without blood the beast will die. We must now at this time find a common good. A common ground to stand on where we all as carbon based life forms come together and set aside our differences of opinion and belief. We must morph now (yes, like the Power Rangers did) into one great beast to stand against the system. We must begin to function as one. We must learn to communicate and effectively transfer information and knowledge to one another. Most importantly we must get off of our lazy asses and get involved to represent ourselves as a unit.
If our Armageddon is not written in stone already (which it may be, the desecration of the Constitution, fraud, lies and manipulation now seem to be daily events), we must fight as one unit and not in splinter groups managing various wars. Cutting off the beast's hand does no good. (figuratively speaking of course) We must aim for center of mass with all our firepower. Move your money was a great start and Tea Parties are good, but they will not be enough. I believe we the only way to defeat the beast will be some form of total revolution. A global financial revolt that literally stops the system and forces it to serve our interests.
Wait Shanky, total revolution? Yup, I think so. The only other HOPE is that we totally revamp Washington. Frank, Pelosi and the ruling elite must be removed. Strict regulation must be put in place. The Fed must be abolished. the Constitution must be restored to it's original form. All that and more must be fixed before we can even consider SS and health care issues. The system is out of control and run by the elite banksters and special interest groups that are drunk on power, greed and control. The literally don't give a shit about you or me. They are a parasite. They are the cancer.
To those of you questioning this (and think I'm a nut) just wait. The impending collapse of CRE, the further collapse of RE and the collapse of their last bastion, the markets, will send us over the edge. Impending higher taxes, further job layoffs, wealth destruction/transfer (to the banksters), pension/SS/medicare failures among many other factors will drive us over the edge.
We no longer have a iron in the fire yet we the people continue to be the lifeblood of the machine. Only we can stop it, and we must act as one for we are the machine. We have lost sight of this. We got caught up in their game of chasing the golden ring. We went to their casino and came out massively in debt. We have lost all concept of what it means to be an American. Our forefathers had to fight for everything. They built this country with their blood, sweat and tears. They fought and died for us to have the right to be free.We have not built jack shit. We have become some sort of parasite as well. It is time to wake up and fight. time to exercise the freedom and rights bestowed upon us. Some generations had it easier than others. It is our turn to make America great again.
It will take a total meltdown to remove the cancer. We will have to start all over again to get it right. BUT, will we (as we always do as a society) accept less for the sake of convenience? Let them have their power so we can have our big screens? do we concede for the sake of convenience?
Here is my question, do we want to slash a few arteries or do we go all out and starve the beast to a point of weakness that it will yield control just to say alive? I say we aim at center of mass and starve the beast.
Wednesday, January 20, 2010
A Mini P3 Rant And SPX Weekly Chart Update
Do we get P3? Hell yeah we get P3! Most know that I believe every bit of gains since April are all a farce. IMO they are purely manipulated numbers driven by backdoor deals pumping QE funds into equities forcing massive short squeezes and using HFT to drive the markets up. For some reason EWI and most TA purists don't get this.
The market is all they have left. RE and CRE are and will be toast for some time to come.The banks and AIG are insolvent. Consumer spending is gone as credit crunch, increased savings and unemployment rule the day. The treasury is at it's ceiling. States like Cali are insolvent and more are to come. China and our foreign allies are no longer purchasing treasuries at a rate that will support our needs.
Monetization will continue the reflation/Ponzi trade, but when it fails it will have done nothing more than dug a deeper hole for us to get out of. The carry trade will end and the dollar will get crushed. Deflation is a must IMO to wipe the slate clean which means depression must happen. Inflation will come eventually. When they first raise rates the game is over. That is when they throw in the towel for this round and they begin the process of really trying to save this country from the failed reflation trade. This will be the great battle. (I speculate that they will raise rates this year, BUT will almost immediately send them back to zero for an extended period.)
We have not recovered one bit. It may have stalled but not recovered. All we have done is save the TBTF's thru accounting fraud, zero regulation policies and mortgaging our future (WE did not do this - THEY did this and it will screw us all). The Brown election has kicked off what I believe to be the largest turnover in Congressional history. Incumbents beware. I believe our president needs to look out as well. Rham will be the first to bite the dust from his cabinet as he scrambles to save face and his legacy. The finger pointing from here on out will be very loud. I expect to see the worms squirm to save their seats and the fight should be more than interesting.
Will the people revolt? Eventually, yes. With pensions destroyed, SS dead, Medicare dead, tax increases to balance budgets, stagnant to continued increasing unemployment, increased productivity (is great for business and the markets but not for employment), zero regulation, enormous bank bonuses, and the death of the middle class; the people will have had enough. We will raise hell and be in the streets one day. They will hear us. I really like the Move Your Money platform. It is a great start to a peaceful revolt. They are screwing you so screw them back. One other way may be to use the power of the internet to organize and have a bill free month (you heard it here first!). Yes, one month where we all decide not to pay ANYTHING. Shut it down. I'm not saying to not pay period, make it up the next month. I am saying to take a month off from payments and see what it does to them. We are in control. We are the power. We can shut them down in a moment if we chose to. Do we need them? Yes we need banks, but not these assholes. Support your local banks!
Our country is teetering on the brink of disaster. Actually we have crossed the line. There is no way out except to for our fearless leaders to perpetuate the fraud and Ponzi scheme that they have gone all in on (and we all know that will not work either). We now have no room for any natural disasters or events that could cripple us further. No room at all. Another $50 billion hurricane would wipe us out. Earthquake in Cali? Terrorist attack on our soil? Maybe the epic Brown victory was the catalyst to start this ball rolling downhill. This is no way to manage your finances. As a planner, we preach about an emergency fund, well we have spent it and more.
Konichiwa Bitches! We are the next Japan so get used to it. The purging will be a deep colon cleanse that will not be pleasant. The rotten feces in our country's gut will take some tome to clear out, so we may have to endure several rounds of treatments.
Have faith though! There will be opportunities to do well in this market (if Barney Frank does not get his way) thru playing the volatility and at the end ther will be a ginormous bull market waiting. The journey to the promised land is upon us. It may not take 40 years, but 5 may do it. Be patient. For those of you that are not traders, actively manage your portfolios. Buy and hold will get you nowhere. Rotate and rebalance and do not be afraid to go to cash. I'd promote the use of ETF's over mutual funds (Alpha? LMAO, the only thing they add is fees and more fees and a portfolio that is so large it is like managing a lumbering elephant thru a china store.) Most importantly, don't get greedy!
On to the chart -
Since Stockcharts was so kind just to eliminate ALL annotations on this chart I had to draw it again. A profound thank you to the incompetent SC staff and computers. Maybe if you went to work for the government we could get this top issue settled.
SPX weekly shows the topping process clearly. Most know that when a weekly chart tops, it tops. It rarely embeds like this one. When it does, extreme over bought conditions persist.
Two scenarios presented. 1) ABC and 2) possible A-E triangle formation. Right now we are all on the ABC and the A-E is only a very hypothetical possibility at this time. Some are calling a "bow tie" top (I hate it but I see it as you have seen me draw big circles on this chart in the past). I see a possible diamond top reversal pattern. The SPXA50 is above 400 again which has been a reliable indicator for tops on the way up. Look for it to travel to 100 again soon. Bear market top TL has been met and pierced. 50% retracement of the fall has been passed. Daily and weekly indicators are embedded.
You can see the piercing of the upper bear market TL. Where does it top? I have no clue, sorry. I plan on calling it, but I just don't see it right now. That is why I put a really large black box on the chart. It may have likely topped yesterday (I wanted one more higher high). I have annotated the "Great Wall of Resistance" above price (green rectangle). I am not willing to even consider anything above that (even though some have the potential H&S target above 1300). Most of you know I am watching the red RSI support line closely. A minor RSI support line is cracking right now (red arrow), but I do not believe this one is THE one. This will however set the high for RSI I believe and the much desired and anticipated divergence hopefully can now be set. I thought the divergence had been set and am not sure if the double top in RSI could count, it may, we'll have to see.
The pullback I have been calling for is happening, now, do I still have the balls to call one more higher high? I'm still contemplating that. Jack be nimble. You want to clear that candlestick and not land on it. I may still betting on the manipulators and the PPT, but not for much longer if I do.
Konichiwa!
Link to the same chart HERE.
The market is all they have left. RE and CRE are and will be toast for some time to come.The banks and AIG are insolvent. Consumer spending is gone as credit crunch, increased savings and unemployment rule the day. The treasury is at it's ceiling. States like Cali are insolvent and more are to come. China and our foreign allies are no longer purchasing treasuries at a rate that will support our needs.
Monetization will continue the reflation/Ponzi trade, but when it fails it will have done nothing more than dug a deeper hole for us to get out of. The carry trade will end and the dollar will get crushed. Deflation is a must IMO to wipe the slate clean which means depression must happen. Inflation will come eventually. When they first raise rates the game is over. That is when they throw in the towel for this round and they begin the process of really trying to save this country from the failed reflation trade. This will be the great battle. (I speculate that they will raise rates this year, BUT will almost immediately send them back to zero for an extended period.)
We have not recovered one bit. It may have stalled but not recovered. All we have done is save the TBTF's thru accounting fraud, zero regulation policies and mortgaging our future (WE did not do this - THEY did this and it will screw us all). The Brown election has kicked off what I believe to be the largest turnover in Congressional history. Incumbents beware. I believe our president needs to look out as well. Rham will be the first to bite the dust from his cabinet as he scrambles to save face and his legacy. The finger pointing from here on out will be very loud. I expect to see the worms squirm to save their seats and the fight should be more than interesting.
Will the people revolt? Eventually, yes. With pensions destroyed, SS dead, Medicare dead, tax increases to balance budgets, stagnant to continued increasing unemployment, increased productivity (is great for business and the markets but not for employment), zero regulation, enormous bank bonuses, and the death of the middle class; the people will have had enough. We will raise hell and be in the streets one day. They will hear us. I really like the Move Your Money platform. It is a great start to a peaceful revolt. They are screwing you so screw them back. One other way may be to use the power of the internet to organize and have a bill free month (you heard it here first!). Yes, one month where we all decide not to pay ANYTHING. Shut it down. I'm not saying to not pay period, make it up the next month. I am saying to take a month off from payments and see what it does to them. We are in control. We are the power. We can shut them down in a moment if we chose to. Do we need them? Yes we need banks, but not these assholes. Support your local banks!
Our country is teetering on the brink of disaster. Actually we have crossed the line. There is no way out except to for our fearless leaders to perpetuate the fraud and Ponzi scheme that they have gone all in on (and we all know that will not work either). We now have no room for any natural disasters or events that could cripple us further. No room at all. Another $50 billion hurricane would wipe us out. Earthquake in Cali? Terrorist attack on our soil? Maybe the epic Brown victory was the catalyst to start this ball rolling downhill. This is no way to manage your finances. As a planner, we preach about an emergency fund, well we have spent it and more.
Konichiwa Bitches! We are the next Japan so get used to it. The purging will be a deep colon cleanse that will not be pleasant. The rotten feces in our country's gut will take some tome to clear out, so we may have to endure several rounds of treatments.
Have faith though! There will be opportunities to do well in this market (if Barney Frank does not get his way) thru playing the volatility and at the end ther will be a ginormous bull market waiting. The journey to the promised land is upon us. It may not take 40 years, but 5 may do it. Be patient. For those of you that are not traders, actively manage your portfolios. Buy and hold will get you nowhere. Rotate and rebalance and do not be afraid to go to cash. I'd promote the use of ETF's over mutual funds (Alpha? LMAO, the only thing they add is fees and more fees and a portfolio that is so large it is like managing a lumbering elephant thru a china store.) Most importantly, don't get greedy!
On to the chart -
Since Stockcharts was so kind just to eliminate ALL annotations on this chart I had to draw it again. A profound thank you to the incompetent SC staff and computers. Maybe if you went to work for the government we could get this top issue settled.
SPX weekly shows the topping process clearly. Most know that when a weekly chart tops, it tops. It rarely embeds like this one. When it does, extreme over bought conditions persist.
Two scenarios presented. 1) ABC and 2) possible A-E triangle formation. Right now we are all on the ABC and the A-E is only a very hypothetical possibility at this time. Some are calling a "bow tie" top (I hate it but I see it as you have seen me draw big circles on this chart in the past). I see a possible diamond top reversal pattern. The SPXA50 is above 400 again which has been a reliable indicator for tops on the way up. Look for it to travel to 100 again soon. Bear market top TL has been met and pierced. 50% retracement of the fall has been passed. Daily and weekly indicators are embedded.
You can see the piercing of the upper bear market TL. Where does it top? I have no clue, sorry. I plan on calling it, but I just don't see it right now. That is why I put a really large black box on the chart. It may have likely topped yesterday (I wanted one more higher high). I have annotated the "Great Wall of Resistance" above price (green rectangle). I am not willing to even consider anything above that (even though some have the potential H&S target above 1300). Most of you know I am watching the red RSI support line closely. A minor RSI support line is cracking right now (red arrow), but I do not believe this one is THE one. This will however set the high for RSI I believe and the much desired and anticipated divergence hopefully can now be set. I thought the divergence had been set and am not sure if the double top in RSI could count, it may, we'll have to see.
The pullback I have been calling for is happening, now, do I still have the balls to call one more higher high? I'm still contemplating that. Jack be nimble. You want to clear that candlestick and not land on it. I may still betting on the manipulators and the PPT, but not for much longer if I do.
Konichiwa!
Link to the same chart HERE.
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