Monday, February 14, 2011

Walk on Wall$treet update

It is February 2011. Spring is around the corner and so is the continuation of the Bull Market. We are all spending again, the unemployment rate is improving, so we're told, the Fed is pumping money into the economy and the Market has responded by nearly doubling in the last 12 months. So why is everyone holding their collective breathe? What could possibly go wrong?

Well, the housing market crisis is still the 900 pound gorilla in the room that Obama and our elected reps want to ignore. The deficit is reaching 100% of the GNP which means the country along with the several states are approaching bankruptcy, and the "bailed out" BALLED UP Banks and financial institutions are sitting on their hands holding on to cash ( or their S%#T)and refusing to give credit to any one but themselves.

Which way the market? Flip a coin. If you're not in the market now, too bad. Don't jump in , wait for a 2-5% pullback to 12,000 Dow. If you're in, stay in, but be aware of the gyrations to come. If you're a trader, best of luck buck-o, lose your a@s when you zig instead of zag, hopefully you're a derivatives trader, huckster, company - you all deserve to lose you're a#s's since you caused most of the misery with the help of the CFTC non-oversight. (They are trying to establish rules and are relying on the same bandits -Derivative Traders- for help writing the rules. Do they even understand the Option market or the "short" market or the out and out lies of "Securitization of Debt,F- Mortgages,and "Vapor Financing"?) I think Not!