Well, after a beautiful blow-off to the 13 month “engineered” rally, the markets look a lot more interesting–and confusing. When we go straight up like we have for 3 months straight, you can doubt the move, but at least its predictable.
Today, gold is breaking out, copper is on the verge of breaking down, Europe is on the verge of collapse (really) and the government has been the “givers of pain and delight” (from the Star Trek episode “Spocks Brain”). The government made the market with kindness and cash and they have turned hostile.
This Goldman charge and the Senate hearings are a transparent way for the administration to push through Finance Reform. But its not working yet. If you want to know if the FED is political, wait for their comments later today. If they do anything to scare the market, you know Bernanke and the entire FED is a tool. I wouldn’t be a bit surprised if those “big guns” aren’t taken out and the SPX to quickly test 1150. After that body blow the doctors will tend to the boo-boo’s with some fresh cash.
If Wall Street is scared enough, they’ll buckle. Watch and see…
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Can’t wait to see….sooner or later they have to pull away that Xerox Copy they have been using.
nope…still using it….but market looks darn weak at this point.
nice Edward G. Robinson reference!