The fucktards in Europe have turned that frown upside down, with most of their indices green after an abysmal start. Like small dogs, we followed them up. But unlike our European masters, there is no gumption in US markets. It’s dickless, totally beholden to news flow out of the ass of Europe, literally. To think one small vacation country could cause a global panic is unbelievable. I debate the point over and over, with myself and Chuck Bennett, regarding the minuscule nature of Greece’s GDP and how idiotic the world is for quaking in their boots over such a non-entity.
The PPT has not registered an OS signal for 2012. So, according to the laws of mathematics, we can still head lower, before we get a bounce. However, based upon the laws of science, which are at times subject to interpretation and creative license, we are long overdue a rally.
The charts always look the worst just prior to mountain sized rallies to the upside.
With all of the reversals taking place, coupled with the firming up of the commodity sector, we should trade up today. But we won’t. We’re too jaded and scared to risk our skin. We see Spain’s stock market at 2003 lows and Italian yields shooting higher, then gander at the Dow north of 12,500 and piss in our pants. America has become a nation of cowards and Europe is a continent filled with incompetent potato brained perverts.
There is nothing at all redeeming about the tape, with exception to big divvy mega caps, like KMB, CHD, PEP and GIS (seasonality wins again). I am on a buyers strike and will reserve my 20% cash position for better times. A time when men can roam the streets freely again, pissing in the wind, kicking animals in the face for the getting in the way.
FREEBIE: Stats on TYP (3x Tech bear) – currently flagged as OVERBOUGHT inside PPT.
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