Open Weekend Post 09/01-03/12

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

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I will be out of touch all weekend, appearing sparingly if at all. Huge week next week pulling the EU into the light and then setting the table for the Fed on the 12th. I suspect we will hear a lot of bad news that will be accompanied by a lot of easing rumors both here and abroad.

I suspect volatility should return with downside action only spurring violent reactions from more Hilsenrath prompts and Potter wand waving miracles. It should be a wide range bound wild ride not meant for the one's with weak stomachs. I would not suspect any higher highs till the week of the 12th and that would be only if easing is announced. Then again, it is their game and we have to follow their ever changing rules, so anything is possible. If BB is willing to throw congress under the buss verbally, then maybe he is willing to prove his stance by generating some real market fear to whip them into action?

Morning Charts 08/31/12 SPX /ES

Well ..... We're waiting. We've actually been waiting (and fully priced in) to hear just what? That the Fed will perpetually ease till infinity anytime that we need a hopium infusion? So, what's news about that? We all know that without the Fed printing and maintaining ZIRP the whose system would implode.

So where is the big surprise? That would be if the Bernank does not ease now? How ridiculous is this whole scenario? Why is that a surprise when we all know he's not going to ease till he has to. Why use your last bullet when the simple promise of easing (or using his tool) is enough to do the dirty work for you.

Why is everyone expecting something different this time? With the SPX over 1400 and economic "conditions" apparently manageable what's the driver? Why the hype? Well that is where the lies and smoke screen come into play. You see the BLS BS and all the other data manipulation has made things appear to be just less than rosy but not all that bad. Do you really buy the last GDP print? Combine that with the current market levels and they have printed and lied themselves into a corner.

Does Size Matter? 08/30/12 SPX /ES

Let's do a quick review -

• Everything is rigged
• This will all end in a horrific manner

Now let's review the Bernank's speech and the upcoming EU (09/06) and FOMC (09/12) meetings  - 

• Bernank will say nothing new and reaffirm that his tool is large enough to satisfy any economic issues that may arise
• The EU meetings will will ensure us that the insolvent ECB will be able to print enough cash to bail out the insolvent countries. The only possible surprise is if Germany balks and refuses to Wiemar again. If that is the case it is finally game over. 
• FOMC meeting, this follows Jackson Hole. Why would any meeting so close to JH have any significance? It shouldn't (not that any of the meetings are significant in the first place). I mean how hard is it for a bunch of old elite fogies to sit around and decide whether to print fiat or not? 
• China, well let's say Big Red is in a world of hurt, but they are smarter than we are as they have been on a global PM and resource grab for years now converting their undervalued fiat into real resources. 

Morning RANT 08/29/30 SPX /ES

Like trying to get cold ketchup out of a bottle? Remember that old 'Anticipation' Heinz commercial? Agonizing isn't it? And we can't even beat our hand on the 57 to make the flow go any faster. The only problem is that in this case nothing 'good' (market crash or global financial ruin) is going to come out of the bottle till something extreme happens (my "event"). Well, what comes out can be considered 'good' if you are like me and want a total implosion of the global financial system to happen sooner than later so we can get on with our lives and stop living the lie.

Kicking the can, extending and pretending, call it what you want. The hopium trade must end so we can remove the virus that is the crony capitalist elite and restore the state to its rightful owners. That would be returning it to the people and taking it from the special interest dominated system. The greed and excess that the fractal fiat system has created must be wrung out in order for us to move forward towards prosperity. 

One of my prognostications is that this nightmare will not be over till you see the minimum wage lowered (yes, I said minimum wage lowered). Not till the lest common denominator is reduced will this charade end. (I'm not going to address nationalism, global competition or us shipping jobs overseas or any of that mess that you know exists in this post) 

Morning Charts 08/28/12 SPX /ES

The waiting game continues. The rumors and opinions fly, but no one knows for sure what The Bernank is going to pull out of his ass bag of tricks to fool the investing public this time? With the elections so close can he even hint at policy? Well that's probably what he'll do. He's gonna throw out a few ideas and let them ferment in the market place hoping that (as proven over the past year) rhetoric and not actual action will be enough to keep the markets elevated.

I think a big surprise could come in the form of some real socialist type move. Direct stimulus to the sheeple could be a real possibility. This would have controls of course, but something like this may need to come sooner than later as public sentiment is rapidly deteriorating. Is there a better way of shutting up the screaming baby than to give him a treat?

Draghi To Miss Jackson Hole Forum; All Rumors Now To Focus On ECB September 6 Meeting which will be followed closely by the FOMC meeting September 12th. We're stuck in rumor hell for the next two weeks. This is wonderful for the crony capitalists as the markets barring some sort of event or catalyst will have a steady flow of rumors to keep the markets under control.

My .93 Cent Apple Billing Nightmare

A bit off topic for the blog, but this story must be shared. It is a story of stupidity, waste of time, waste of money, aggravation, horrific customer service and a system that is so computerized one can't simply make a payment to resolve an account issue.

Here is a story of great inefficiency caused by an overly automated system. If this is our future, we're screwed. All of the aggravation and time wasted in the following post was caused by a .93 cent billing issue that I wanted to pay but can't because Apple's system is so computerized they are incapable of simply taking a payment and crediting your account over the phone (like this is a sin in the 20th century as Biden would say). What should have taken less than 5 minutes has taken an 1:20 minute phone call, 4 or more emails and is still unresolved the following day.

Morning Charts 08/27/12 SPX /ES

OK, Jackson Hole here we come. What do I think we get? The same 'ol crap, The Bernank will say something along the lines of we'll do what we have to when we have to cause we're the ultimate backstop. The markets will be a bit disappointed, but content to know that the Fed has their back and will move if necessary.

The presidential political football is in the air, the EU issues remain front and center, the economy is floundering at best all while the SPX resides above 1400 which means there is no pressure right now for any action (regardless of the harsh cold reality that lies deep under the economic veil of deception).

Open Weekend Post 08/25-26/12

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

I'm still mulling whether to call a top or not. I got a bit of a reprieve Friday with that nice little ramp courtesy of the Bernank's "we'll ease if we gosh darn please" comments and a few other developments that gave the markets an apparent renewed shot of hopium. As evidenced, these markets can change direction in a moment.

I think everyone is a bit fed up (pun intended) with what's going down right now. Most any sane person knows that the battle being waged by the financial elite is pointless and will only end in devastating financial ruin with us all basically having everything stolen from us. If that does not happen us (and the next few generations) will wind up as debt slaves to the elite.

What a wonderful situation we have found ourselves in. They will feed you a line of bull a mile long that they have the tools to fix everything when we all know that they are manipulating everything. No wonder everyone is so annoyed. Just imagine how ticked we're all gonna be when they manage to extend and pretend one or two more times averting the inevitable?

As shown all week, the charts are ready. The question is then, is the Fed?

Have a great weekend.

GL and GB.