The stockmarket is no longer determined by fundamentals nor technicals nor free market forces but by the desperation of governments, central banks and policymakers hell bent to give the impression that they have averted an economic crisis which in the end will be inevitable.
I wasn’t going to write anything this week. All I wanted was to let you folks enjoy the video. However last night’s Dow market action compelled me to write this rant.
Despite the lack of news the Dow managed to put up a gain of 2.5%. Just because some analyst upgraded GS…the whole banking sector went wild which led the rally in the US stockmarket last night. Its sooooo blatant that the DA BOYZ, PPT are back to their old tricks again of propping up the stockmarket under the direction of Chairman Obama and Premier Emanuel. Maybe DABOYZ have been ordered to keep the Dow above 8,000. I doubt they cut short their vacation in the Hamptons. Never mind that the stimulus package is a complete failure and that real unemployment numbers are at double-digits. Noooo! Lets keep the market up so as to give the illusion the economic policies of the United Socialist States of America are working. As for the analyst upgrade in GS, either she’s stupid or she’s in bed with the DABOYZ. Who doesnt know GS will beat earnings tommorrow? They’ve fleecing the market for the last 3 months with the help of taxpayer money. The fact is the US recovery is non existent. Stimulus is having no effect and the Fed has run out of bullets. Efforts of supporting the stockmarket will only go to line the pockets of DABOYZ.
What the hell happened today? Nothing but a wave of bad news on the horizon for banks and financials, and one bullish comment by an analyst drives GS up and the market with it. It makes no sense. And when it makes no sense, I look for the alternative reason. If the Government knows they can manipulate the market in the short term with Financials, and they need to pass Cap-n-Tax and Obamacare, then drive it up short term till the agenda is in. And this is probably a suck in the last of the suckers to the last breaths of the rally. I am still short on Financials over the next couple of months till reality sets in, and won’t blink.