Sunday, May 26, 2024

Happy Days are Here Again…


Dow 10 Million!  Almost sounds like Year 2000!  Wow, it's seems that the recovery is real and the recession is over now that we've hit 10,000.  Do you feel any richer today, then yesterday?  Boy... I sure do!

Well, I said several weeks ago that I believed we'd close that gap from 2008.  I just never believed my own forecast.  So, what's next... more bear meat for dinner I suspect.  Goldman will blow out estimates I'm sure.  Then IBM, and some more manufactured jobs numbers... and off to 12,000 we go.

You know... there has always been manipulation in the market.  But, never in history has it been so evident as now.  This couldn't have been done in the past, on such a grand scale.  The massive and I mean Massive printing of money has never been done to this extreme.  The couldn't have happened back in 1929, as we were still on the gold standard.  Today, we are on the Godman Sucks standard!  Print more money, and give it too me NOW!  I want my Billion Dollar Bonus before America goes broke!  I'll need it to pay for groceries once inflation kicks in.

Sorry folks, nothing I research, rationalize, analyze, chart, or guess at comes to be.  Everyone on the planet seems to be on drugs or something?  It's like the 3 stooges (Obama, Geithner, Bernanke) are all one person named Jim Jones, and the world is happy to drink the poison kool-aid.

Why even try to use logic to understand this market, and forecast the next move?  I'm just going to start posting an "Arrow" point straight UP everyday.  I feel like a weather man in the middle of the desert.  Well, today it's going to be hot, and tomorrow it's going to be hot too.  Next week... hot!  Next month... hot!  Somebody just shoot me!  This weather report is getting old!

OK, enough bitching.  Back in October 2008 the tail of the candle was at 109.68 (spy), and the close was 110.34.  So, that's where we are heading.  Once that gets hits, you can expect a sell off to occur.  That is Mega Extreme Resistance, and again... the market is not likely to get through it on the first hit.  So, a sell off should occur first.  How low you ask?  I don't know yet?  Let me call up the boys at Goldman and ask them.


Author: Red

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