 | Poor market….the folks on TV said you had a “tough week.” In fact, you had the “toughest week” of the year.
Have the bears finally emerged from their caves to come out and growl? They certainly can make a strong case with the global problems from Europe to China to right here at home, including today’s not-so-great new home sales number.
Hardly. A 1% weekly decline in a market that’s already made an 11% yearly gain on a whole lot of hopium can’t really be considered a pullback. There’s a new normal, and this normal has blurred the lines between bear and bull among other things.
As long as Backstop-Ben and the world banksters remain committed to the wholesale printing of trillions of currency units all around the world, things will continue to be askew. It’s hard to even call dollars, euros, yen, and so forth money anymore.
Furthermore, with Ben’s staunch avowal that interest rates need to remain near zero, things can’t return to a real normal. The $16 trillion in debt certainly doesn’t help. Alas, these are just “numbers.”
No matter how much more tinkering with the system lies ahead, we know that the world economy is in the hands of fools who remain convinced that they know what they're doing, regardless of how abject their past failures have been.
Let’s face it: there’s a new normal, and that normal isn’t pretty.
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 | 
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Trading Signals from the Electronic (ES) mini-SP 500 - No “Secret” signals filled today.
- Algorithm positions (3)
- “Reading the Tape” positions (4) …combined Secret’s, Algo, & “Reading the Tape” total… +1.25
Click Here to See Yesterday's Detailed Results | ES 1392.25 / 1384.25
POC... 1392.00
YM 13022 / 12960
NQ 2727.00 / 2716.50
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Keep a civil tongue.