Tuesday, May 28, 2013

The "COSTANZA" Market

Lance Roberts has it RIGHT!

Wilful-blindness-and-3-bullish-arguments




I really hate to post any thing at all, mainly because I've been feeling like shit and therefore really don't give a damn, but also because, well, there's really nothing to talk about, the markets are just weird and stoopid.
Well, actually, since the Payroll report in early May the market has actually acted like it SHOULD (Udder Dan Going UP every day), as the SPY went higher, AND, bonds went LOWER, in the form of the TLT which is the blue line, which is the "NATURAL" order of things, which is why we all have an asset allocation "strategy", bonds AND the stock market are not "supposed" to both go up together, like they have for a few years, so this was cool. The current problem is that the "market" has changed, as both bonds, AND, stocks have gone down since the FED A-HOLE spoke a week ago, which is back to NOT being "NATURAL". Bond yields have really started spiking, which may, FINALLY, be the Bond Vigilantes front running the A-HOLE, which would be a big change, and a good thing in my humble opinion.

Anyway, it's been a "COSTANZA" market since then, as we open up and do the complete OPPOSITE of the gaps, as we gapped down Thursday and Friday and then went up all day after the open, then we had the dumb ass gap up today and then went DOWN all day, really shitty stuff, it is, just IMPO of course, by the way, we fell about 14 handles on the big $SPX from the high this morning, which is a LOT, and which seemed to be completely over looked by the press, as all they want to talk about is how much we finished up on another record consecutive higher Tuesday.

ANYWAY (again), I hate to say ANY THING, BUTT........ I, COULD, make the case that a Head and Shoulders is starting to appear, and a break under the lows of Thursday and Friday.......COULD........ be pointing to a "Equal Move" gap fill of the Payroll day in early May, about $159.

Of course, more than likely, we just go to Da Stinking Moon, sigh, wad ever.

1 Comment:

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