Friday, April 01, 2011

Market Timing-Whats Next -April 1st Closing Report

April 1st, 2011 @ 8:45am

Futures point to a higher open - SO what ? THiS IS APRIL FOOLS DAY- hmmm

Impact stream above shows NO LASTING STRENGTH to that open rally

EKG shows a see saw day- so what else is new?

Neg energy at 1:05 pm

OPTIMISM abounds today & tomrrow

New moon completes at 10:30 Sunday am, so grab onto your seat belt afterward

Psych calls for dreamy state of mind, and finish up old biz

IMPACT STREAM AT NOON showing weakening.
neg energy at 1:05pm, but might only be temporary

AT 3;45PM we can see WEAKNESS from the IMPACT stream above


rrman said...

out of my long /6e euro play with big profit 1.4158 will buy the drop at unlock sunday night 1.4250 is the target tuesday then everything turns and the dollar rallies for 3 months what a deal!

Abdullah said...

Jay - Yes this is April FOOLS day, when it comes to the jobs report we got. Although 216K jobs is the best reading we've had in 3 years, it's awful poor in the scope of things. The only thing they can crow about is that the "trend is going in the right direction". The Birth/death model, injected 117K jobs into the number.. jobs that don't really exist.

Abdullah said...

No one seems to want to face the fact that after 3 years of bail outs, stimulus spending, taking over the auto companies, bailing out fanny, freddy, aig, etc etc etc.. the best we can manage with Bernanke buying 4 billion in treasuries each day is 216K?

And they think that QE is going to end? That is a funny April Fools joke.

Abdullah said...

Its a new month. It's a new quarter. That always brings in new money. We got an acceptible jobs number, something they can holler about. That will help. We have earnings coming up soon. I think we move higher in a herky jerky fashion, and see the pull down begin something around earnings. Possibly sooner.

I do NOT think the criminals can make all new highs. I think this runs out of steam. But until they yank the rug, we have to go where the money is an right this second, it's "long".

Abdullah said...

sorry for the long post guys ... I have been out on travel and just checking today's action. What I see, every single "guru" thinks that sometime soon the FED will get tough, and we're going to see the market correct. So, here's my question. Do they all do it on the same day? Is there some event that's going to have everyone rush the exits at the same time?

You know that QE will NOT stop.

The FED heads are on TV talking tough and suggesting rate hikes and the end of QE, and frankly it's funny. This is a manufactured rally. Wall Street needs FED money to keep the scheme alive. Is the FED really going to cut off Wall Street and his bank buddies? HAHAHAHAH. I think not

So on one hand you can say "well if bernanke's pushing the market and he's not going to stop the QE, then the market can continue on indefinitely". There's some truth to that. We are in uncharted territory. We have no idea how long this can play out because it's never happened before. In all the years that the market has existed in it's present form, there has never been a publicly announced push to make the market go up.

Who knows.. maybe they can take it to DOW 16K. I don't know. Everything in my head tells me that they can't pull it off that long, but again we don't know. My best guess is that this plays out a bit differently. I said before, we'd push through 12,400 and probably work our way even higher for the next week or so as

Abdullah said...

as new month/new quarter money comes in. But I have this nagging suspicion that we're looking at a rug pull in the near future and its going to be very STEEP.

So, what can we buy way up here? Everything's over extended and stupid expensive. I think I will stay SHORT and baby sit my positions.