 | As you all know, the market is rallying on a daily basis. Yes, there is occasional good news; but is it really good enough to justify the huge point gains, or is it purely hopium based?
Did you know just how good this centrally planned rally is? The S&P is up 4.5% already this year, which makes it the best early gains since 1987. Moreover, at this rate (and all the talking heads say the rally will never end) the monthly gain will be 9%, and the annual gain will be 108%. Riiiigghhht. Speaking of 1987; weren’t the gains that year extrapolated to infinity too? And what was it that happened again? Hmm, bug meeting windshield comes to mind – splat.
Until then we have to trade the current market, and it is still horrible. The market gapped open higher again, which immediately led to a nap session. The majority of the initial 75-min of the day traded roughly in a 2.50-point range.
It didn’t get much better as the day wore on. Oh sure, there was another slow leg higher, but when this short-lived rally ended…that was it for the day. For the next 4.5 HOURS the market traded within a sickeningly narrow (roughly) 3-point total range.
Trade well and follow the trend, not the so-called “experts.”
Behold the age of infinite moral hazard! On April 2nd, 2009 CONgress forced FASB to suspend rule 157 in favor of deceitful accounting for the TBTF banksters.
larrylevin@tradingadvantage.com
Trading Advantage
(888) 755-3846 | 
 Larry Levin's Trading Advantage is a leading investment education firm that empowers traders to achieve and surpass their financial goals. More than 50,000 students have used Larry Levin's proven techniques for powerful results. | |
Trading Signals from the Electronic (ES) mini-SP 500
- No “Secrets” signals today.
- Algorithm positions (2)
- “Reading the Tape” positions (0) …combined Secret’s, Algo, & “Reading the Tape” total… -3.00
Click Here to see the results of our signals | ES 1310.75 / 1306.75
POC... 1310.25
YM 12561 / 12535
NQ 2440.00 / 2425.25
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Keep a civil tongue.