Well in truth .. its not funny. But the disconnect between the economy and the stock market is absolutely ridiculous. Ben is doing a great job propping up the market .. and doing nothing for the economy. Why? Because he doesnt have the tools. Only Obama and the legislature has the tools and the government is doing NOTHING.
for a Monday swing trade
markets may have topped here as in 2000
QE3 looks like a will not happen with markets a 4 years highs
and inflation rearing it's ugly head in rising food and gasoline prices around the world
QE3 would just make it worse
Fractals show a strong reversal around Sept 16
this week was all a manipulated Draghi dog and pony show
for his buddy Obomba who's been secretly bailing out euroland
Obomba worse Prez in history
$5 Trillion added on the backs of every American since he took office
and he says we voted for him because he tells the truth?
people voted for hope and change and he brought
slavery back in vogue. More debt slaves for all his banksters friends.
I'm an old guy and have seen alot of stuff that was unbelieveable over the years. On that scale, the current situation isn't that crazy.
In 1972 when I bought my first stock Nixon had just slapped on wage and price controls, the inflation genie was out of the bottle and the Fed still had like a 4% funds rate. That was nuts. In the summer of 1973 the Mideast was gearing up for war, the economy was slowing and inflation was continuing to grind higher . . . the dawn of stagflation, and the Dow was still hanging around all time highs.
In 1980-82 I bought a little shoe company (Brown? I forget) that hadn't had a losing year since the depression and the dividend yield was 12% and rising. The stock was .2x book with no debt. Values like that were commonplace. Inflation by 1982 was showing signs of collapse and Volker had fed funds in the teens. That was nuts.
In late 1999 with the nazz rising 2% a day, inflation back to 5%, and unemployment around 4% Greenie was dumping in liquidity on daily basis.
I just work my plan and assume that craziness is the exception rather than the rule.
Now it's + $4.00 gasoline,$16 billion defecit,+ 8% unemployment,the mid east a powder keg,Europe in a humungus mess drowning in debt like us.The same situatin is the market doesn;t seem to care.
Sentiment: Strong Buy