Open Weekend Post 05/17-18/13

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

Budget deadline is the 18th. I assume this is a non issue as usual to the government.  I mean, they have not had a budget for years now, so what does a debt ceiling mean anyway? Remember the fiscal cliff? Yeah, well here we are again, but I guess the Fed pledging endless funding takes care of those smaller remedial issues.

tyr·an·ny

noun \ˈtir-ə-nē\

plural tyr·an·nies

Definition of TYRANNY

1: oppressive power tyranny

over the mind of man — Thomas Jefferson>; especially : oppressive power exerted by government tyranny of a police state>

 

2a : a government in which absolute power is vested in a single ruler; especially : one characteristic of an ancient Greek city-state

b : the office, authority, and administration of a tyrant

 

3: a rigorous condition imposed by some outside agency or force tyranny

of the clock — Dixon Wecter>

 

4: an oppressive, harsh, or unjust act : a tyrannical act tyrannies

>
I suggest you watch this video with representatives of congress and individuals speaking out on the recent issues surrounding the IRS targeting and other recent deplorable acts your runaway administration is responsible for.  27:30 to 30:00 is the best part. The vid just gets better as reporters questions come after that. WARNING: This video can or may make you sick to your stomach if you are a true liberty loving American. It will also make you sick if you are an O loving democrat, cause your power base of corruption is about to be totally dismantled and your president is being exposed for the lying tyrant he is.

"This Is The Way A Tyrannical Government Comes Into Being And Perpetuates Itself" Louie Gohmert

Nixon was a choir boy compared to this abuse of power. This will be one hell of a battle and Moonbat will use every executive order in his power to hide the truth. Oh, and don't forget the race card.

Might I suggest that you read this selection of quotes from Thomas Jefferson.

SPX:Gold, silver and USB - the correction will happen one way or the other.

Enjoy the weekend.

GL and GB!

Morning Charts 05/17/13 SPX /ES

Once again we end another wonderfully profitable week for those long the stock market. Never mind that this is one of the longest periods without at least a 5% correction. That does not matter and it should figure when the Fed has forced every asset looking for any return into the stock market. For visualization purposes think sheep being herded for slaughter. Once you enter the gated chute there is no turning back.

You are either full risk on or the IRS will audit you, the DHS will intimidate you and all your electronic communication will be monitored. Whoops, that last part is going to happen no matter what. I meant to say you are full risk on or they will crush your short position into tiny little fragments that will be used to fuel the fire for the next 5% pop up.

Top, top, top is all we've heard for a year now, and we're hearing it with increasing intensity now from almost all fronts. Defying all the odds (and steadily worsening economic data on every level) here we are. So, what's going to take this market down? The Fed has spoken the ill fated words for a couple of weeks now about lessening the easing infusion, the only thing that keeps this market afloat. That has not scared anyone off. The data is horrendous. that does not seem to bother anyone. Globally everything sucks. WMT misses, BRK gets downgraded (of course S&P is much less reliable than Moody's and Fitch /s) and AAPL is priced for perfection. Credit and bonds are signaling total disaster is immanent. Even the Tepper curse has been made. I cold go on and on noting many more topping scenarios and catalysts. So what's the deal? Why do the markets continue to soar, and what will it take to stop this bull run for the ages?

What will it take to stop a completely manipulated and totally rigged system? I have no idea, but I do know that since the 90's (really since the JFK assassination) "they" have been at the helm. "They" have survived two great crashes, but somehow have managed to blow a third bubble. This one on nothing but debt (the worst type). You can see and feel it all spinning out of control now. The exposure of government scandals is finally being brought into the light. Their control of the MSM is being challenged. Their ruling ways of fear and intimidation are being exposed.

What this administration needs now more than ever is a distraction and a really big one so expect it soon. A domestic false flag would be good. As discussed here around the Boston bombing (FF or not), we're at a time where the government absolutely must have a 9/11 type event to galvanize the nation. Also discussed here many times over the years is that every global economic crisis like this thru history have always ended in a massive war. I honestly thought O would have stated one before the last election as no war time president has ever not been reelected. How bout this - will O attempt to extend his reign (not presidency but reign) with a war? Sickening thought isn't it? I've discussed how I think this plays out with distractions to cover the crash many times (and of course you know I think disclosure of alien life will be coming soon as well).

Syria is about to break out into a full fledged world war. I suspect at this time Russia, China and the US have already divvied up the globe and they know how, when and who gets what has already been decided. I don't think any of them are stupid enough to go for total global domination or to blow up too much of each others critical infrastructure. We all know the war is all about positioning for oil and energy. I do believe that a war will need to be very, very deadly and will be planned to eliminate as much of the global population as possible. The war will be about sustainability of the globe and not ruling power. It will be a great eugenics experiment. We're overpopulated. We can't supply enough jobs and can hardly feed everyone now as it is. So, big war, kill lot's of people (preferably the unhealthy ones without education and on welfare - sorry this is the way I see it), destroy lots of things, restructure the banking and finance balance sheets and put fewer people back to work with plenty to do. Bingo! and we're all kicking ass again.Well, those that are left will be.

On to the markets -

Sorry got off on a tangent there - back to the markets - really the markets are the great distraction for all that's coming. They are the invisibility cloak hiding the harsh cold reality that's coming to haunt us all. Nothing is real and that's why I kind of avoid discussing price movement these days. It is pointless. But, there will come a time, and hopefully very soon (if not right now), that discussing price will become meaningful.

Last Friday I thought that taking a shot at a short might be worth a try. Thank goodness I submitted that with caution. I still like the timing though. I got screwed by the machines, but isn't that to be expected these days? Look at the news and the economic data from this past week and my short call should have been beautiful. LOL. Anyway, that was the first time in a long time I have been willing to even think short, and I still think we're close to a time when the bears may be able to make at least a little hay. I do think I am going to pull the trigger on a top call very soon just o get that out of the way.

10m SMA intervals - Cause it is a good chart and someone wanted it.

Index Comparison Monthly - If my count is correct there have only been four red months in the past 20!

Index Comparison Daily - BUNCH ALERT!

CPC - Sell 'em territory for almost a year and diverging!

SPX Weekly - Dig the parabolic lift the last few months and ask yourself is this real? How about those divergences and the overthrow in the indicators?

Minis 15m - I'll give support and resistance calls below. Should be fairly obvious.

Bottom line is nothing makes this thing crash till they want it to or some "event" makes it. More to come below.

Enjoy the weekend.

GL and GB!

Morning Charts 05/16/13 SPX /ES

Nothing to say so here is a journey thru some of my ToS SPX charts.

Minis 30m -

All the rest of these are SPX charts from ToS -

Triple top - note the channel for this latest run and where price is here. I know, at least to me, that price hitting the upper side of this channel we've been watching for years was at one time inconceivable.

Morning Charts 05/15/13 SPX /ES

Early post -

And I wake up to this? Futures Rise As European GDP Declines At Worst Annual Pace Since 2009 Really? Must remember, bad is good and good is good, nothing can be bad in our bubble where the Fed and this administration will control and manipulate everything. Mommy will build the Wall.

Hush now baby, baby dont you cry.
Mama's gonna check out all your girlfriends for you.
Mama wont let anyone dirty get through.
Mama's gonna wait up until you get in.
Mama will always find out where you've been.
Mama's gonna keep baby healthy and clean.
Ooooh baby oooh baby oooh baby,
You'll always be baby to me.

Mother, did it need to be so high? (Waters) 

In my wildest dreams I never thought I'd be referencing The Wall in one of my posts when describing what was America, but here I am. I've had enough. Yesterday I wrote about the markets being nothing more than a distraction to reality, and last night that really began to sink in as I read Drudge and all the highlights surrounding the dark and heinous acts our government has been committing.

Let's hit a few highlights from Drudge -

'PRESIDENT PASSERBY': Obama deflects blame, claims ignorance...
NOT ME: Holder points finger at deputy for AP phone taps...
Atty Gen 'not sure' how often media records seized...

REPORT: IRS ordered conservative educational group to turn over list of students it trained...

POLITICO: OBAMA LOSES DC... 

McCONNELL: 'We've Only Started to Scratch the Surface of This Scandal'...

FRANKLIN GRAHAM: IRS TARGETED US, TOO...

Rev. Billy Graham Endorsed Romney...

IRS requests stalled applications of conservative groups up to 13 months...

Official speedily approved exemption for Obama's brother's 'charity'...'Corrective actions have not been fully implemented'...

And that is just the top left corner of his site. This is Hope and Change folks. Hope for a police state run by power hungry criminals that are destroying our Constitution, and Change to a fascist totalitarian state. It is sickening. Could it be worse? Sure it can. Our Justice Department run by Holder is controlled by the administration that more than likely orchestrated the IRS, AP and Benghazi attacks.

And if you wonder any longer why my market coverage has deteriorated into the two P's, now you know why. Nothing is real in this country or on this globe anymore.

If I were a betting man, I'd say really soon would be a good time for either a really large false flag or for a larger war to break out. Who's gonna impeach a wartime president? (note:a lot of the conspiracy sites are pointing to the 19th as a key date.)

On to the markets-

Morning Charts 05/14/13 SPX /ES

Pay attention to the right hand. Never mind what this left hand is doing. Ah, the old misdirection trick. I've been telling you for years now the markets were just an illusion to mask reality. Most thought I was a ranting lunatic, but loved the analysis and charts so much they hung around. Well, it appears we have yet another case of conspiracy fact on our hands and more proof that the growth of the fascist state is accelerating.

For years STB was all over follow the Fed. That was all you could do. Ease on/off translated directly to risk on/off. That was until QEfinity and the game of kick the can became a game of keep away. This evolved into the two P's, patience and prepare. Patience is required to deal with the Fed pumping in $85 billion a month in "stimulus" to fund the HFT bots buy only algos that keep the market's fire raging. Prepare is for the coming capitulation and the aftermath of the bursting of the debt bubble.

We've discussed at length that "they" can not let the market even correct at this point (currently the longest streak on more than six years without at least a 5% pullback). The markets solely exist at this point due to trillions in intervention, raw manipulation and globally coordinated central banks rehypothecating already fractalized collateralless fiat currencies. A tsunami of liquidity? I don't think so. This house of cards looks impressive, but looks can be deceiving.

What are they hiding? Plain and simple from where I sit. They are hiding the biggest economic collapse in the history of the globe. A total system failure of the global financial system. When you're four years into a "recovery" and the debt sold by two of the largest TBTF's in the country would be junk without government backing, there are serious issues.

IMHO, at this point they are in total damage control and planning for the great collapse. They are not trying to fix one damn thing. The only thing they are fixing is how the elite can dominate the globe after everything goes bust. They have installed the best president for the job. A socialist that is raping our constitutional rights worse than any before him. A champion of transparency that controls the MSM with an iron fist and uses the justice department against its own citizens. The government today exists to serve the corporate special interests, not the sheeple.

You can sweat and fret this market all you like. I know where it is going. I've known where it was going since 2009 when I penned, "Not until an external "event" rips control from "them" will this market fall." Now, I never imagined it would come half this far, but here it is. We're coming closer to that event every day. I do believe that Cyprus was the first serious catalyst. You can see the desperation in the administration. The lies and corruption are being exposed now from Benghazi to the IRS issue to the AP issue to the lies about whose using chemical weapons in Syria. Their backs are against the wall, and they are running out of time.

The gun grab and expansion of the police state are happening for a damn good reason. They know when this thing goes bust, society will as well. They are preparing for the worst, because they know the worst is coming. So you be a good little sheeple and keep on watching the MSM believing everything they tell you. You keep on playing the market and reaping the dividends of their greed and manipulation. It won't be long till we have a(nother) major false flag event. They must keep you distracted, and they must create even more fear in the hearts of the sheeple. Sadly, it's not the al qaeda (CIA) terrorists you need to be concerned about. It is the terrorists running this country that should be your greatest concern.

On to the markets -

We all see it. I could go on and on (and we do in the comments below) how many top signs there are right now. RC hit in a plethora of them in the comments last night you should go see.

Morning Charts 05/13/13 SPX /ES

Amazing that on the 18th we're gonna eclipse the debt ceiling yet again and this is not headline news. I guess it is a non-event when everyone knows it is gonna happen, and we'll just continue to print more money to cover the excess. Pretty amazing stuff how financially complacent we've become. Just spend, spend, spend and whatever you do, no matter the cost, do not stop the greed train. Consequences? What are those? Pay the piper? Why? When you print fiat from thin air it is free right? 

The Hilsenrath rumor mill has begun again in earnest. I guess the Fed needs something more than steady QE to motivate the markets. Why not shake things up a bit? If the carrot in front of the horse goes stale, you need a change. So you threaten to take the stimulus away creating a bit of fear, then you give it the old. "just kidding", bring things back to normal, crush the shorts again and wham-o! new highs come yet again. 

Bottom line is things are spinning out of control at an increasing rate. You are starting to see serious signs of desperation financially and politically. It appears they are starting to get stuck in the many webs they have woven. The budget crisis, Benghazi and Syria are topping the list of things we need to pay really close attention to.

I believe we're really close to a top in the markets, but the distractions they will need to turn our attention from the collapsing markets are not quite in place. Boston was a big event and good trial run, but it was not large enough to spark the nation into protectionist, raw nationalization, praise the homeland mode they will need like after 9/11. 

They're not ready for the "event" quite yet. They have done a good job thus far preparing the police state, limiting our ammo and controlling the MSM. They are close, and I believe they are starting to press a bit knowing their time table is shrinking. I suspect we'll see a larger domestic terrorist attack very soon. 

On to the markets - 

Open Weekend Post 5/11-12/13

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

I have little to say. Pretty sick about the whole mess at this point, so I'll give you a break from the bitching. If I see anything when updating charts this weekend I'll post it.




Enjoy the weekend.

GL and GB!

Morning Charts 05/10/13 SPX /ES

I feel comforted this morning. It is good to know that Jack Lew says,""The debt limit will be reached in just a few days when it expires on May 18 but because of the cash flows we can predict that we will be okay until Labor Day,"" That must be code for he's gonna pull another Turbo Timmy and raid the government workers pensions for loans to keep the government open again (and again and again).

Phew! The once unachievable $12.5 trillion debt ceiling now stands at $16.8 trillion and is rising. That's good right? No bubble here. We can continue to print more to stabilize a rotting economy and increase the entitlement base (those that rely on the government and will vote for the socialist democratic party in the future) all the while the Fed controls interest rates so this can remain affordable. They have everything under control, so there is no need to worry.

But as typical Americans (referring to the banks and citizens here) they rack up debt regardless of their means to pay for it cause the banks want us to. The more we borrow the more we spend and that is how this great country is "richer" that anywhere else on the planet (margin debt at all time highs). Good credit, bad credit - does not matter. Collateral? If you got it we'll take it but that is not necessary. Got a job?No, well that's OK too. (China - delinquent loans surge by 29% - not here - but a good example of how things are globally)

So what about the bad loans. They fixed that problem in 2009 with all that new regulation and tighter lending restrictions. Those worked for a while till "they" figured out that rules were just messing things up and getting in the way of profits. Dodd Frank? Uh, yeah, that went well. SarbOX - shuh riiight. They have the solution for everything and that begins and ends with the Fed and it's CTRL+P powers.

You see the banks lend, we default, the Fed provides more liquidity and all is well. This liquidity now even serves multiple purposes as loan loss reserves, since default rates are plummeting (cough, cough - see China above), can now be reallocated to support earnings (even in the quarters where the banks have 100% winning trading day records).

It all works so well till it doesn't. Maybe we need to start looking at Japan as a "for instance" as to what currency and interest rate manipulation can bring. Maybe not, the CB's say. We're different. It can't happen here. No one saw it coming (oops, I got ahead of myself there).Their debt/GDP is like 215 and ours is only like 105. What's the big deal? The Yen just eclipsed 100 yesterday and all was well in the East till this morning when JGB's were haled limit down. Whoa! Wait a minute. I thought everyone said Abenomics was the ticket. $75 billion a month in easing and they were buying up the globe. What happened? Well the like 5th bond market closure in the past couple of weeks happened. All is well? The other day it was Fitch, today it is Moody's (now that S&P is out of the way) reassuring you that the Bond Market Bubble is Overstated.

I could go on and on, but I won't. You know most of the story. It is the same as it has been since 2009 and nothing has changed other than the numbers get bigger and the methods of manipulation continue to deepen. We're nearing the end game. It could literally come at any moment now. They are one slip from total destruction. The good news is that we have full faith and trust in the good folks that got us in this mess to get us out of it.

On to the markets -

The good news for the bulls is it looks like they are setting up a massive HnS formation. I'm not sure if they have changed the definition of this pattern from bear to bull yet, but they will need to sooner than later as right shoulders have proven to be the best buying points over the last few years. More on this next week.


Minis 60m - Busier chart than I have been showing over the past few days and now you see why I want to blow up this ToS chart but can't.

Daily SPX - OK, I'm giving my blessing to those that want to short now. Only for a brief stint, but I have to go out on a limb and say that this setup with the news flow to come that this could be a good point to enter shorts with protection. I would not go balls deep out of the gates, but scale in and make sure the play is the right one. It has been a VERY long time since I have been willing to say that. Personally I would not prefer to short going into a weekend. I hate leaving that much faith in hands of others when I can't get to a open trading platform. I'll start projecting targets and such next week IF this matriculates. No bother in putting the cart ahead of the horse especially when talking about shorting this bullfest.

As usual more to come below.


Enjoy the weekend.

GL and GB!