It's time to focus on the major market theme, not silly games for 300 pound welfare mothers.
That theme would be a rise in interest rates. The ten year Treasury bond bond is being slaughtered again today, so this modest reflex rally in the DOW is masking the real ongoing problems. That means more selling next week. I suggest you take a look at a one month chart of TBT. $150 TBT is feasible over the next nine months, but it is not for the faint of heart because of the resetting properties. In the coming scenario, Mr. P and Co. won't even matter. It's all about a real product, earnings, and utility, and even high quality companies will still be slammed. Yes, systemic risk.
I only have one reservation. Neil Young said welfare mothers make better lovers. It's just that I don't have a particular fetish for fat bottomed girls. When do we arrive at the fat bottom of ZNGA? No, we are not quite there. Next stop is $2.50, and the market will not be kind to ZNGA after the next lack of profit report. The timing will be horrible, as we will be in the midst of a broad decline of the major averages.