I honestly did not expect Bernanke to initiate QE this close to a presidential election. While some of you seem to feel that this will aid Obama, I humbly disagree.
Bernanke will likely infuriate most voters as gasoline and oil ramp into November 6. That is the last thing I think Obama would like, and Romney can now run with the Ron Paul crowd, playing up Ben as a political lackey willing to sacrifice his countrymen’s wellbeing to keep the pig trough full.
Romney would be a fool not to tap into the general hatred and mistrust of bankers, to his advantage.
More to the point, I have this 25% cash position precisely because part of me thought Ben would not initiate monetary easing. Now that he has, let me be very frank – we are not selling off before next January.
What you are seeing today is a sector rotation and nothing more. Rotation and people locking in monster one day gains.
We are not done going higher.
For those distinguished gentlemen of The PPT, I advise you to just stop looking at the market gauge, because it’s going to be flagging in the red, superheating cycle, for a long, long time.
6 Responses to We’ll Run Overbought For Months Straight
Romney is a fool PERIOD
Well that clears that issue up…
Way to qualify your statement.
CT – Food Grade Fracking on Schaefer’s emails:
From Subject Received Size Categories
Oil and Gas Investments Bulletin Food-Grade Fracking Fluid: It’s Coming 8:11 AM 39 KB
Sorry – here’s the link:
It just doesn’t make sense to worry about what the general public thinks of technology and resource management – it has a terrible track record.
Stupid bastards used to think the world was full of a plasma and that if you drilled too deep, the Earth would deflate like a balloon.
I could care less what “the public” feels, because “the public” is usually a bunch of worked illiterates being led by a handful of sinisterly motivated douchebags.
I think the author nailed it – fracking is here to stay