More bad news means only one thing; another Bear Trap.
As Euro-banks march toward their inevitable Run and failure, the prevailing perception is that the ECB will come forth with another trillion Euros, just like in December. What choice do they have? Another save!
As the domestic economy disappoints though its lack of growth, the prevailing perception is that the FED will pony up the next half-trillion or so to keep the closed-loop of the banking and investment universe happy. Another save!
The major indices are trading at post-crash highs, now near 2007 levels achieved just before the wheels came off the bus. And now there are calls that a new Bull Market is about to begin. The low-volume rally proves it as that has been the trend for the past three years. Big volume only lasts for a few hours and finishes quickly.
Forget about fundamentals for a second. Never mind the double tops, the negative divergences and the clear Distribution that is well underway. Never mind that queasy feeling in your stomach every time you pull the trigger to buy something. One can’t help but wonder if the wheels will come off the bus, again, during your latest trade.
The Bloomberg conference yesterday had more than a few dire warnings about economies/markets. Never mind as the selling this morning was all sopped up by 10am and replaced with a HFT-steady, cardiac-ready pattern of buy programs.
We are now just 5 SPX points above my April 17 high. Patience, as they say, “tops take forever to form and bottoms are formed quickly”.
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Meh. This correction can happen all at once.
Or it can happen $0.10 of EURUSD at a time.
Hasn’t happened yet…Don’t hold your breath, just know its coming…
Would think if all of this printing was inevitable there would be more buying interest in Gold/Silver.
agreed. put on your tin foil hat as the conspiracy theories are flying
Here’s a conspiracy theory – Scott has yet to produce one actionable or correct idea in 2012. BUT, one day there is a 100% chance he’ll be right. Then he’ll tell us he told us so.
lolz. Again, we are only 7 points above my April 17th high. That was a value-added call. Saving my charts for a rainy day…
missed your “actionable call” too
Keep posting Scott .. God I hate the trolls
On the one hand, up; on the other hand, down.
Accidentally buying into the top will teach us important lessons and make us better traders. … so it’s not all bad, right?