[TA DAILY] Squirrel

I find it fascinating (some may say pathetic) how our markets react to each piece of news like it is a game      VIEW ONLINE         UPCOMING EVENTS     Larry's Morning Commentary Squirrel!   I find it fascinating (some may say pathetic) how our markets react to each piece of news like it is a game changer.  Here comes another movie reference…It is like Dug the dog in the movie "UP".  The market will just be sitting there minding its own business and all of the sudden…SQUIRREL!  Take what happened yesterday morning when the Housing Starts number came out.  The number printed at 1.135 MM which far exceeded the expectation of 1.015 MM.  This was the biggest monthly jump since 1991.  How did the market react?  They smashed commodities across the board for one.  The rationale behind that being that this is THE key piece of evidence that the Fed needs to start a tightening schedule (raising interest rates).  Forget all the other indicators that the Fed is nowhere near able to do this.  On closer review of the housing number we see something very interesting.  The big increase can be attributed to one region in the U.S., the Northeast Region.   I notice two things:  one is that this is the biggest monthly increase since right before the crash in 2008 and two; this is merely a "catch-up" from the huge miss back in February.  Net/net, I find this really hard to put in the category of "ammunition" for a move by the Fed.  Don't be Dug the dog and freak out every time you see a squirrel. Trade well and follow the trend, not the perma-bull OR perma-bear "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. Read Past Issues of Larry's Morning Commentary     It was another flat and choppy session yesterday in the markets. With the major averages consolidating ahead of the FOMC minutes release, we could see a bit of a shake up today. While I don't expect too much ahead of the minutes release, I do expect things to be a bit volatile in the afternoon...   Read More       TECHNICAL DATA ES 2127.00 / 2123.50 POC 2125.25 YM 18,290 / 18,250 NQ 4514.50 / 4502.00     This is going to be pretty exciting when options begin to trade on this: AccuShares Investment Management LLC ("AccuShares"), an innovative financial services firm founded by experienced industry veterans...   Read More     Watch how our instructors call out live signals, answer questions, provide detailed commentary and compare notes with fellow students. Our live classrooms offer training on all markets - where you can watch the exact techniques our top instructors use with simple, yet complete explanations of every move they make in real time. 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