Morning Charts 02/19/13 SPX /ES

Seven weeks in a row now the markets have moved up. They put the fiscal cliff to bed and amazingly all the problems went away. Well, they at least appeared to go away. Changing laws and kicking the can does not solve anything. The sequestration issue is coming in a week, and right after that we're back to the debt ceiling drawing board. Tough times for the markets are coming soon as the headwinds of reality will blow again. Of course the $85 billion per month tail wind delivered courtesy of current and future taxpayers the Fed helps to defer reality.

So we sit and watch as POMO does its intended job, lifting the markets creating the illusion that all is well and the recovery is running full steam. That is all we can do. I know I talk a lot about waiting on the catalyst to come. Sorry, but that is all there is that could be left to stop the corrupt crony system at this point. They have control from start to finish, from Wall Street thru politicians thru the scotus.

There is nothing that the sheeple can do at this time to change anything. I believe we recognize this, that we are waking up at a more acceptable rate than in past years and that gun sales are a the best indication of where this whole mess is headed.

So, let's see if the sequestration issue can deliver a shock to the system. Then let's prepare for the next debt ceiling debacle. Stormy seas lie ahead, so enjoy this last week of calm sailing.

On to the markets -

02/18/13 SPX /ES

President's day - Last I checked none of the great socialist republics celebrate their founding fathers. This is good cause it means that BO will not have a holiday in his honor.

Enjoy the holiday and have a good day.


GL and GB!

Open Weekend Post 02/16-17-13 SPX /ES

You know the drill, share the love and the knowledge.

Well we got hit by a meteorite, but he big sucker thankfully missed us. Phew! We lost a Pope and now have the papal prophecy upon us. Then lightning strikes the Vatican. Two signs from above in one week was enough for me, thank you very much. I would not be surprised to see a massive UFO sooner than later the way things are going.

Markets remain what they are, a manipulated POS that will do only what the Fed wants. The WMT news late Friday generated a small blip to the downside, but that was rather quickly recaptured. Who cares if the worlds largest retailer is sucking, all is well. Believe the mantra or be declared a terrorist. Noting can be bad and if it is the government will make it all better.

Minis 30m - range bound all week. 22 to 10 - nice 12 point ping pong match that lulled most to sleep I guess. I sit and wait for a catalyst, that is all you can do.

Enjoy the long weekend.

GL and GB!

Morning Charts 02/15/13 SPX /ES

I'm gonna get deep in the chartbook to see if there is anything worth posting. I used to bring out some pretty damning charts providing evidence of the market's screwedupness. I stopped for a while of course, cause charts no longer mattered as the QEfinity train was and remains fully stoked with fiat. Well, it may be time to start revisiting some of these technical doomsday scenarios as the irrational exuberance over fraudulently manipulated markets may be wearing off a bit.

SPX/TNX - 14 years. Either way, if TNX corrects up or SPX down, the scenario to get these two back in harmony is not good. Looks like your gonna get crushed no matter what you own.

Morning Charts 02/14/13 SPX /ES

Share the love baby! Not! STB ain't sharing no love this morning for the fraudulent and corrupt system that we now serve as debt slaves. There is no time for showing any love to the administration, congress, banksters and corporate elite that are robbing the country of every once of wealth and subjugating all current and future generations to a debt burden that only benefits those in power.

Obummer told another half truth the other night when he mentioned raising the minimum wage. Really? This is no more than a trickle down bribe (or flat out lie) to keep the entitled in their cages, keep them voting democrat and keep their building rage minimized. I guess words speak loudest to the 23% of the illiterate Americans citizens (that I would assume are all mostly in the entitlement system).

How's that gonna work with O care coming and corporations struggling with how to deal with the associated increased cost? I guess since he raised almost everyone's taxes (not just those in the $250k plus zone) maybe this will help offset that mistake? Maybe not.

Now, on the other hand, sharing the love with those that are awake and in tune with reality is what STB is all about. I want to deliver a true happy Valentines wish to all the readers and contributors (commenters) of STB. Without you all, this blog would be nothing. Thank you for your support and sharing the love and knowledge  here every day.

On to the markets -

Morning Charts 02/13/13 SPX /ES

02/13/13 two thirteens? Uh, um, not good? I'd avoid ladders, breaking any mirrors and black cats today if I were you.

STB's SOU rebuttal, nothing but lies and half truths are spun to mislead you to believing that all will be well with a little more elbow grease and patience from the sheeple masses. OK, so if we can get over the slight income problem, I agree. The real problem lies where our government takes in about $2 trillion in income, spends 50% more (around $3 trillion), owes over $16 trillion (and rising) and has close to $120 trillion in unfunded liabilities. Of course the president and congress never address how we can handle this massive debt and the more than excessive liabilities on such limited income. If you or I managed out households in such a manner we'd be in jail or on our way there.

The deindustrialization of America and the growing entitlement state are counter productive to solving a credit and debt crisis. CTRL+P and increasing spending are no way to manage such a crisis either. More of the same in this case is not a good thing. Remember our place in the global ponzi system. Our job is to consume. Their job was to buy treasuries and make cheap led based trinkets for us to purchase. When they quit buying treasuries and went to net sellers, the system broke. Remember Humpty Dumpty? We have fallen off the wall.

Morning Charts 02/12/13 SPX /ES

SOU tonight. My thoughts? More like SOL. I was thinking about this time last year and how all I could do was recommend following the Fed, waiting on a catalyst and watching an overbought market climb towards the 1375 double top with an underlying situation similar to today. I would like to say that little has changed, but that is not the case. If you would please inform me what I am missing about this improving economy, or where the "hope" is let me know, cause I don't see it.

potus is going to tell us how things are improving and some inspirational success story about some mixed race female that is handicapped, came from a broken home and had 14 children by the time she was 25. O will try to inspire us and reassure us that they have everything under control when nothing could be further from the truth. I won't be watching. I can't stand to see him or even hear his voice. It literally makes me want to vomit.

We won't hear about the NDAA, the drones, the 1.6 billion bullets the DHS has purchased for domestic use, cyber spying, domestic road blocks and the sprawling police state that is taking over the country. But you will hear how they need to control our ownership of weapons.

We will not hear about the special interest controlled representatives and administration that serve the corporate elite over the people.

We will not hear about shrinking GDP numbers, trade deficits, devalued currency, stealth inflation and how we are losing hundreds of thousands of jobs a year to China.

We will not hear about how government spending is 25% if not more of everything and without disability and student loans (the next next bubble) to maintain our entitled unsustainable spending habits we'd be up shit creek.

Morning Charts 02/11/13 SPX /ES

Two words - Papal Prophecy. If you don't know about this, maybe you should entertain the prophecy of Saint Malachy. This is some freaky stuff not only regarding to the accuracy of the order of the popes to this day as called in the year 1139, but it is pretty darn scary to think that the list ends with this last pope. This next pope (Peter the Roman) will preside over the destruction of Rome and to some will be the antichrist revealed. This at least gets Obummer off the hook for now. Who knows, he may declare himself the next pope. I would not put it past him.

First, let's get this straight, Popes DIE they don't quit. One has to wonder with all the corruption running rampant across the globe if this pope is not being either forced out or sees something so terrible that he is compelled to leave the post. Has the Italian banking crisis and the global financial crisis bled over into the church and its bank? Will the next pope be another former GS executive? What about the assets of the church? Does this have something to do with the wealth of the church and Italy's financial troubles?

Folks are gonna freak out over this and for good reason. I have written about this prophecy in the past, and I suspected that the reign of this pope would not be long for it to fit within the time frame of the impending global financial collapse. Given the global financial crisis and tension, and then combining that with the prophecy that this pope will preside over the destruction of the seven-hilled city and the coming of the dreadful judge. Ouch. Bottom line, it fits perfectly with everything that is going on around us at this time. It could be one of the final pieces of the puzzle. We could literally be nearing the end of biblical times. If you do not know about this prophecy, I suggest you google it or follow the links provided and learn more about this subject.