And in good fashion, we ramped higher today off an employment report – that will probably be revised downward thirty times between now and summer – and the Fed trying to have their cake and eat it too.
Don’t care…
The market actions are not what I am focused on. Equities, even commodities, and their prices are all good and fine – that’s ultimately where the money is made after all. I respect that. But my focus is and shall remain glued to who’s doing what, where.
The who is industrial; the what is slowing down; and the where is – well, almost everywhere, actually.
The Fed is playing calculator here, mindless drumming in numbers to their little spreadsheets and trying to get that correlation between actual market output and their six thousand variable model – which they were promised would measure input/output readings to within a fraction of a percent.
The numbers that count just keep reaffirming I’m where I should be. If they start coming at me in unexpected ways, I’ll evolve.
But no asinine cheerleader pom pom pump from Bernanke is going to get me long. That’s all he’s after, anyway. He’s not in any position to really do anything, and I think he knows that.
If you enjoy the content at iBankCoin, please follow us on Twitter
Yep at almost $4.00 for gas he knows he is dead in the water. As gas goes higher the growth slows. We need gas at $2.00 for this economy to take off, until that happens forget it.
It can be argued that QE2 was nothing more than an asset swap and wasn’t actually inflationary. But the market didn’t give a damn and you were either long or wrong and I doubt any level of explaining from the Fed would have resulted in anything different. Can’t see why it would be different now regardless of how much explaining they try to do. And if they have to explain it away then what’s the damn point?
I went to home depot tonight to buy a smoke detector. It was like a gal damn ghost town.
I walked in and was not greeted by a 60 year old making minimum wage for standing in front of a door, smiling like a creep. I stumbled around the vast building in search of someone, anyone, who could point me to the smoke detectors. I managed to find the smoke detectors before finding an actual employee.
I grabbed what I needed and walked to the checkout aisles. To my dismay, not a single person was working the checkout aisles so I went to a self service checkout.
As I was checking out, a lady came from the customer service counter to see if the self service checkout was working.
There must have been five people tops working the entire home depot. Ridiculous.
For the first time since last week, VXX volatility is starting to look viable for longs again.( May/June call options in particular)
We are at the start of a minimum 20% SPY correction into autumn
http://www.tinyurl.com/6vvx8k2
3 year wide head and shoulders in the Sandp500/Volatility ratio still intact