Monday, April 9, 2012
Fading Scarecrows
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The lower than consensus jobs number is a blessing in disguise. The market doesn't need more jobs. The market needs more free money. QE3 will always be lurking with these kind of jobs numbers. The scarecrows will be chirping loudly today. Their moment to shine has come, finally after repeated beatings. But it will be fleeting. By next week, we should be back towards 52 week highs. Getting long and blocking out the noise from CNBC and the financial media. Earnings expectations are surprisingly low, considering the monster rally. Earnings should be a catalyst for further rallying. The UPOD strategy by CFOs will fool the sheep again into thinking that earnings are good. That should be good for a quick bounce off this dip.
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- Party Like Its 1999
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8 comments:
QE3 is political dynamite, the only way to diffuse is to get this market down 10% or more... Big Ben needs more radical options and to get politicians on board he needs them to be scared. No fear yet... I am pressing shorts for now into every bounce.
Banana Ben is an in your face money printer. You think he cares about politicians? He's the LeBron James of money printers. He'll stuff money in your face like LeBron stuffs basketballs. Nothing will stop him. No regrets, no remorse. Banana Ben fills up a balance sheet like LeBron fills up a box score.
They will liquify without using the term QE3. That's what operation twist was. They have an arsenal of liquification tools
SPX down at 1200 and Market Owl still buying the dip ... that will be fun ! How was the high probability long trade ? ... :-)
Current divergence will in markets (ie lack of breadth) will not end well.
I love it ... watching Owl buying the dips ... lower and lower ... :-)
this is the end.. why catch the falling knife???
AA beat the street.
UP 1% tomorrow
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