One down day was all it took - the bulls are back to there squeezing ways. I must be deaf dumb and blind - this rally feels so contrived - totally illegitimate - no reason for it to be happening.
Im getting beat up today - for now im down about 1.5 points on my short nasdaq futures - not to bad. The bond auction results are getting a poor reception by the bond market but a positive reaction by the permabid SPU buyers - of course "gotta keep market up so I can move this POS secondary offering out tonight" - make no mistake the little guy will be left holding the bag after all of these deals are priced - again. Its basically fraud if you ask me.
Remember we have some lame FOMC announcement at 115 pm central time where Ben Bernanke will say whatever GS and JPM tell him to say (and of course not raise short term rates b/c we cannot even handle a 1% fed funds rate - the money has to be free)...fixed, rigged - ugg sometimes i feel like taking my ball and going home - today is one of those times.
JB
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