Obama speaking in tongues? The top is in

Is the, "i am the greatest stock picker everything goes up lets get rich" party over? What is that i hear Mr. Obama are you speaking in tongues again?




Obama: "Err...Those Fat Cats are gonna pay!"




Sellputs: "But.....those fat cats with all the excess pocket change put you in office Mr. President."





Obama: "Now you see Mr. Sellputs i am a man of the people, im going to fix everything."





Sellputs: "If you fix the stock market us "fat cats" will not be able to fund campaigns.. left or right."




Obama (under his breath): "I know your right, Timmy has Goldman on our team."




Sellputs: "You bastard"




OK, ok enough fun already, the reality of the situation iswe are in a very different trading environment, i have been harping about all the BS upgrades and ridiculous stock promoting schemes for a while now. Maybe you can begin to see where i am coming from. The juicing of the markets by the federal government can only keep the party going for so long. The heart of our problems, real estate has yet to honestly recover, unemployment is still growing, many states are almost BK, many city governments are technicaly BK (cough Chicago). Yet US stocks have been bought with voracity completely forgetting where we came from? I believe it was all a big charade, a simple ploy to buy time for all these banks to somewhat clean their acts up though the real issues still exist. Heck we all know the fed is gonna stop buying mortgage backed securities at the end of the first quarter of this year.






Beyond all the not so obvious we have the obvious.. Whenever the government starts spewing rhetoric bashing banks, talking about regulation and reform, the market sells. No trader, fund manager or retail trader wants to be long stocks with crazy uncertainty about the future and the threat of changing the game. Think about it? Would you want to continue playing a game if halfway through the game the rules changed? i would not, i would take my chips to the dealer and cash out and wait. A lot of traders think this way, this is not good for stocks. When mutual fund mangers start puling the sell trigger things are gonna start getting loose. There was so much selling today the PPT team could not stop it, the PPT does not want people to think they are not in control. As soon as they lose control the party is over, maybe they knew they were at some point gonna lose control? Lets hope they have a plan B. LOL






As for the chart, the blue circle really is the focal point, we have clearly for the first time since the "bottom" we have broken the uptrend line. Next stop? who knows but im learning on shorts, once we start rolling its like a snowball, everyone gets scared and wants to lock in profits. Selling begets selling. Bring it on, i have been waiting.

Posted in: SPX