Gapping Up

AUY +1.6%, GG +1.5%, MDRX +1.7%, SLW +1.8%,  KGC +1.7%, GNET +19.5%,EM +16.7%, JCOM +13.5%, SFSF +11.3%, HRS +8%, AMAG +7.7%, NEM +1.2%, RIO+1.2%, TRMB +6.7%, SIMG +6.4%, DGI +4.5%, SKT +4.4%, STD +4.3%, BCS +4.1%, AEM +1.4%, ABX +1.3%, CBS +1.4%, DEO +1.8%, CBOE +1.2%,TOT +1%,CS +3.2%, NVS +2.2%, SNY +1.9%, HTZ +2.8%, OKS +2.7%, UBS +2.5%, DB +2.2%, ASML +2.2%, LNC +2.2%, ING +2%, LYG +2%, XL +2%, WBMD +1.9%, VOD +2.6%, VASC +1.9%, INCY+2.2%, PEET +1.8%, VRSK +1.8%, ASML +2.2%, PODD +1.8%, PSTI +1.6%, HCC +1.6%, SM +1.5%, PTEN +4.1%,

Gapping Down

THO -7.4%, POWI -7.3%,SMSI -16.2%,  VCLK -3.4%,  OPEN -5.4%, SONS -3.6%,GLUU -1.5%, IO -11.2%, CAVM -9.9%, SAM -8.1%, HF -8%, 

In Play

On the wires

All aboard….

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Challenger Jobs Report says job cuts have surged 60%. Economists expect 85k non farm payrolls and the unemployment rate to stay steady at 9.2%.

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Challenger Report article

Job Challenger Report states job cuts have surged 60%….

derrrrrr

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Gold is currently up $28 @ $1,672.50

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Also investors snapped up Australian and German bonds sending yields lower.

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While being surprised of yesterday’s sell off Laszlo recommends holding on and sees a bull market until 2013.

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Oil is trading down $0.63 @ $93.10

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It seems that all things negative are converging all at once. The only bright spot has been earnings.

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For now Australia is on hold as the global economy slows and may curb inflation. But the hand has been revealed as the inclination it o raise rates when the troubles subside.

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We now have parasites and a madcap of “brinksmenship” of lawmakers….

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Along with the mention of intervention the Swiss Bank cut interest rates unexpectedly. The Swiss Bank is running out of bullets as they have payed dearly for intervention over the past year.

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As part of their restructuring efforts the company will release new products to compete against Apple.

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Today the markets got crushed. The question is where do we go from here ? chessNwine has a good vid to help you decide.

Right now The PPT reads 1.7 coins on the SPY hybrid score.  The overall market hybrid is 2.47

We have seen as low as 1.44 hybrid on the SPY before seeing a reversal so keep that in mind.

A look at the longer term charts show support @ 1244, 1220, and strong support @ 1200.

Also keep in mind that volume was huge today. But on a weekly chart the volume is just above average.

With all the derivative action behind the markets i’ll bet this is not over yet. Hope i’m wrong.

“Good Luck and Good Night”

This guy makes me laugh. If his predictions ever come through I will laugh even harder as I have all the necessary precautions in place. Mama said to always be ready for a rainy day.

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One could say the “State” has created a fictional fear in your mind in order to relieve you of your benefits…..little by little you see.

Others will say that would involve a tin foil hat.

This article takes an interesting point of view in consideration of our national debt.

The question posed is can you let go of your fear ?

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As predicted by many the deflation recession is stronger than many think. Bernanke did say he would manipulate asset prices. The question is how will they serve up shit on a silver platter so the public will agree upon it. On second thought when has the fed ever cared about image ?

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Jump On It Bearded Clam