 |
Follow Us:
Today we will revisit a past newsletter. We call this best of.... In 2002 a film entered movie theatres across the country and quickly became successful for its comedic value and charm: My Big Fat Greek Wedding. What’s playing out on Fraud Street and in every political chamber of the world is not a comedy, but a tragedy.
If this tragedy had a name it would certainly be changed from time to time along with the odd circumstances and never-ending bailouts. Now, however, it might be called The Big, Fat, Greek Relief Rally.
Last week the market was told that the baddies would win the weekend election, but all would be well as the Global Central Planning Nannies would be there to take care of us by rigging the markets to do their bidding. But the baddies didn’t win; the good guys won. That is to say, those that will NOT upset the apple cart won. When told to jump, they will respond with “How high sir?”
The market initially gave back its gains from Friday, but realized the Fed will give it QE3, 4, & 5 so why worry. The ES clawed back to unchanged and then traded in a miserably narrow range into the close with a final surge to close up on the day.
And why not, right? What’s different in the economic world end game today? Absolutely nothing! As mentioned above, the New Democracy's narrow victory Sunday means that Greece will continue playing by Germany’s rules as the ECB tries to prop up the rest of Europe.
Plus, we’ve moved on to today’s drama - the Large, Chubby, Spanish Debt Dilemma. Things in Spain are worsening fast as the countries bond yields head to uncharted territory (aka they aren’t really worth anything) with yields on the 10-year notes reaching over 7%.
The only marriage that matters is the one between Ben Bernanke and the Central Banks and their vow to solve the world’s problems by trying to print more money. Yes, here in the US we’re eternally wedded to all of Europe’s debt and there’s no prospect for a divorce.
The market no longer reacts one way for very long to the minor macro-economic or political events, because we’ve all wizened up to what’s coming – The Gigantic, Morbidly Obese US Liquidity Injection…coming to a theatre near you soon, with trailers of The Gigantic Italian Liability Monster. 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
- Pivot sell @ 8:47am at 1402.125(avg fill) = -2.00 & -1.25 (2 lots)
- VA buy @ 9:46am at 1401.50 = +0.50 & +0.50 (2 lots)
- Algorithm positions (4)
- “Reading the Tape” positions (0)…combined Secret’s, Algo, & “Reading the Tape” total… -4.00
Click Here to See Yesterday's Detailed Results
ES 1404.00 / 1401.50
POC... 1403.50
YM 13156 / 13136
NQ 2736.75 / 2729.75
| IMPORTANT NOTICE: Futures and Options trading has large potential rewards, but also large potential risk. You must be aware of the risks and be willing to accept them in order to invest in the futures and options markets. Don't trade with money you can't afford to lose. Nothing in our website shall be deemed a solicitation or an offer to Buy/Sell futures and/or options. No representation is being made that any account will or is likely to achieve profits or losses similar to those discussed on our site. Also, the past performance of any trading methodology is not necessarily indicative of future results. DAYTRADING involves high risks and YOU can LOSE a lot of money. Hypothetical or simulated performance results have certain inherent limitations. Unlike an actual performance record, simulated results do not represent actual trading. Also, since the trades have not actually been executed, the results may have under- or over-compensated for the impact, if any, of certain market factors, such as lack of liquidity. Simulated trading programs in general are also subject to the fact that they are designed with the benefit of hindsight. No representation is being made that any account will or is likely to achieve profits or losses similar to those talked about in our site. | |
| | | 
 |
This email was sent to ignoble.experiment@arconati.us by Trading Advantage
No comments:
Post a Comment
Keep a civil tongue.