The markets have been bailed out by the splendour of mashed potatoes. As we speak, a gluttonous populous are raiding retail shoppes, tripping over one another, in order to “save” coin by spending money for X-mas items. The day we call “Black Friday” is upon us and “Cyber Monday” lurks in the crevasse.
Just know, today’s low volume melt up is one of the few “dunk shots” of the market. If retail sales come up short, Santa Claus will get kicked off his sled and beaten senseless. It’s also worth noting that every single crisis in the market is used to fuel short covering frenzies–this time circling around the specter of “The Fiscal Cliff.” Bulls will use rumors and rumors of rumors of a soon to be inked deal to frighten short sellers into mercy positions, breaking the shorts over their knees like pretzel rods. Once the reality kicks in, markets will fall. However, until the moment of truth is delivered, it’s casino time–courtesy of a hyper malfunctioning government body.
In short, the Santa Claus rally is in full retard mode. Let’s just hope the upright walking pigs have enough credit to fuel this rally until year end.