SPY has been rallying since 12pm
NFLX is green.
FCX is green, reversing a huge 10% drop.
X is up.
TWTR is running higher.
BBG, AGIO, WLL, LRCX, QUNR and a bunch of stocks that have no business being up in this sordid tape, are all higher.
This could only mean one thing: A LATE DAY RALLY.
I reallocated into SPY this morning, giving me, once again, a 200% SPY position–alongside 25% in TLT.
LET THE RALLY COMMENCE!
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Front page pic took me back.
LOL. Me too! “Mozilo toast face” – a.k.a. “The tan one” or “the orange one.”
Fucking country wide financial. What a fiasco.
IWM is up over 1% too. Finally rally time. About time for this.
BTW, you hit the nail on the head in your previous post, Fly, when you said that we have “a dollar backed by the full faith and credit of the strongest military on earth. It is the reason why we are currency reserve. Make no mistake about it.”
That really makes a whole lot of sense. In order to be the world’s police force, defending the rights and privileges of all the multinational corporations, how could a nation do this without spending more money than God has, on their military? And the U.S. certainly does. And having the world’s reserve currency is the only way to have more money to spend than God has.
1872 still the close number to watch