Economic reality continues to be steadfastly ignored – bullish exuberance appears to be ubiquitous. Even better – a ‘worse than expected’ (snort) Chicago PMI report is nothing but yet another dip buying opportunity to cash flush POMO infused primary dealers:
The wave count and our inflection point have not changed – we remain in the whipsaw from hell zone we have been bouncing around in for the past three weeks. Our uncle point remains at 1069.62.
The bull will not be denied as various exotic Fed cash windows continue to hand out tax payer coin to primary dealers happy to burn the bears just one more time.
Inversely the Dollar has turned into the Fed’s favorite pinata – the more they hit this thing the more candy drops out to the delight of various gnomes driving the new USD carry trade.
Finally, NYSE A/D ratio currently at around 1.0 – not much of a change since yesterday’s reading at the close.
2:26pm EDT: So, you want to be a big bad swing trader, do you? Well, do I have a little gem for you:
I think this chart is pretty much self explanatory.
2:41pm EDT: Okay, I apologize in advance for the unrelated post but prepare yourself for the cheesiest infomercial I have ever seen (and that is quite an accomplishment in itself). You guys just have to see this:
Now, I actually do run Windows 7 right here at the evil lair and am loving it. It’s hosting geronimo and various other charting apps – no problems at all and I have to admit, even as an avid OS X user, I really enjoy Microsoft’s newest creation. However, how this turd of a promo clip could ever make it beyond the crack stained quivering fingers of the mental retard who wrote it is simply beyond me.
BTW, where is the obligatory Asian guy/gal? I feel racially insulted! However, I have to concede that the hot MILF (second from the right if you need to ask) makes up for it a little – yummie….
2:53pm EDT: OMG – it even gets better!
I’m speechless – rarely happens – but this just blew my mind.
Alright – back to trading now…