Shorts were wiped out today in a panic, crushing, move to new highs, and a firm clearing of the 1700 level.
Our Federal Reserve announced today that it's going to keep the 85 billion dollars per month of robbing Peter to pay Paul, uh I mean buying it's own bonds, game going. That's right folks, epic financial insanity is not going away, apparently, anytime soon.
It seems as though they feel "our economy still needs it". With unemployment at 7%, real estate markets booming higher, and the stock market at all time highs, one would think that now's a decent time to knock off the insanity. And to stop robbing the freaking hen house!
But no. These mongers are going to keep pressing, and push it until End Game Times.
Today's panic could indicate a blow off top. Or it could indicate that a fresh new auction leg has been ushered in. So which is it?
I think that shorts have a little bit more pain to endure, and the last long laggards need to get on board. I think that it's high odds today signaled exhaustion, or very close to it.
No comments:
Post a Comment