 | With a collective global shrug of the shoulders, we are left with more questions than answers as we all stop and wait for the FOMC meeting on June 19th and 20th, or at least a few clues from Ben when he testifies before the Joint Economic Committee of Congress on Thursday.
Will he pull out the big bailout gun and launch QE3? Or will he just extend operation twist? Will it lead to a global bailout coordinated with the European Central Bank?
Who knows?
Here’s one question we can answer: Will any of these bailouts work? Of course not!
Ex-Treasury Secretary Paulson had a big bailout gun once – he called it a bazooka and expected to scare the market with it. Would he use it? Indeed he did, and it was filled with confetti. It made no difference to the market.
Forced liquidity is a failed experiment that has proved fruitless time and time again.
It’s pretty bleak so I thought I’d add a little Monday levity. Here’s 90 seconds that describes the sad reality of US banking and politics - in Dr.Seuss style prose.
http://youtu.be/UjZSCi2MSc4
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 banking mafia.
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 “Secret” signals today.
- Algorithm positions (4)
- “Reading the Tape” positions (6)…combined Secret’s, Algo, & “Reading the Tape” total… -0.75
ES 1277.00 / 1269.50
POC... 1273.00
YM 12099 / 12051
NQ 2472.75 / 2450.25
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Keep a civil tongue.