Bernanke's town hall meeting - To suggest I'm disappointed in it, would be an enormous understatement. He's dancing around the issues and when asked point blank about something he can't dance.. he simply lies. I expected nothing less.So Bernanke is going to keep interest rates extremely low for a very extended time, the market loved it. In other words, there wasn't even a hint of tightening. So, gold popped, silver popped and stocks popped. I have to really wonder what to do here. My target for the DOW once we got past 12,400 was a quick ride to 12,700. Well we're there. Well, almost there. Should I just toss caution to the wind and go crazy knowing that everything that's in place right now are going to stay in place? Obviously not. I think that we have to worry about "levels" to some extent and 12,700 is a stumble area if it holds up.Yet it's clear that the market has gotten the green light from bernanke that he's still going to feed them billions, so I would probably should be getting "longer" so to speak. Yes, still holding FAZ, VXX & BGZ. Sold out early on my gold/silver/miners - oh well.
Let's look at the real situation here for a moment. The Government has billions to spend on Fannie and Freddie. They have billions to spend in foreign "aid". They have billions for the top brass in the pentagon to buy new toys that blow things up. But they don't have anything for Mr. and Mrs middle class. Nothing but inflation, taxes and "austerity". Do you think it's by accident? It is NOT by accident. The truly wealthy elites love getting uber rich on the backs of the middle class. It's always been that way, but now it's been taken to a whole new level. Each day that I open my computer and scan the global news, one thing jumps off the monitor at me every day and that one thing is this... no matter where we look, the middle class is getting stomped on by the bankers, and Corporate elitists that have taken over not only the US, but Europe too.
get Long commodities stocks and short dollars
It feels an awful lot like late 1999/early 2000 and that means "blow off top" forming. Look at Amazon. They missed earnings, and dipped. But then the street decided it was a great release because revenues rose and they ended the day up 14 dollars per share. Is that rational? No, the market has now become irrational and frothy. This is dangerous stuff. Frankly I've only seen such lunacy once in my 17 year career in investing and that was the last months of the tech bubble. Now we're in the Bernanke Bubble and it sure feels.. similar.
Be careful out there rpccpa! This is a run away train, driven by Wall Street cowboys hell bent on milking this situation for all they're worth while the getting is good. When they decide to go the other way, it's going to be dramatic.
AS A "D" WAVE high within an EXPANDING TRIANGLE , this type of action that you are describing is very positive for SENTIMENT, thus we are dramatically overbot.Apr 27th was a FLASH TURN date,and they did hit all the higher numbersOEX PC ratio at .83 showing BEARS capitulating for the first time this month.The JAYWIZ index did the exact same thing just prior to Apr18th.on Apr13 & 14 = .18&.16on Apr 15 = 1.22______________THIS WK we have Jaywiz index onApr25& 26= .26 & .23apr 27 = 1.20today is a low tide day and has other neg connotationsJayIm waiting for 8:30 b4 publishing today's ekg, as the open today will be influenced by the GDP dataaccording to that article I re published, REAL GDP could be in the NEGATIVE, but GOVT stats wont show that until they cantcover it up by leaving out certain values.Jay
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