Comments on: 5 REASONS THE RALLY IS BUILT ON QUICKSAND

By: James

James — Fri, 11 Sep 2009 02:59:11 +0000

Brian, I remember back in February, a lot of ‘pumpers’ of bank stocks said, don’t fight the fed. Of course, people really did pay much attention because, they’re, you know, pumpers. They were pumping from the highs of banks stocks. But what I have noticed is that when pumpers or bashers are in a very small minority group…then you usually see them turn out to be right.

I just remember that statement on ‘don’t fight the fed’. I guess that statement couldn’t be more true than now. We all have to sit back with awe and discouragement at the government’s powers over the markets. Awe because it is amazing what they’ve done, discouragement because it can’t be called a market anymore.

By: Brian

Brian — Thu, 10 Sep 2009 22:09:37 +0000

PS. IMHO, this is not a hope based rally, this is a government-controlled rally. Fundamentals don’t matter. Technicals don’t matter except long-only signals. The US economy is not getting better from where we were 12 months ago. Very little has changed except for the worse (albeit perhaps at a slower rate). The market will not crash because the gvmnt won’t let it. There will be bumps along the way but if the gvmnt has taken it this far the way they’ve taken it then 1100 and 1200 should seem like a chip shot. Perhaps sell-side guys like this fellow make money telling others to be careful but baring that they are seriously risking their credibility and the accounts of people who believe them.

By: Brian

Brian — Thu, 10 Sep 2009 21:44:11 +0000

Hey can someone ask Geitner at the town hall meeting coming up, what his target is for the SP? While they’re using my tax dollars to boost his stock portfolio, the least he can do is tell me when I should sell. I mean if he’s really looking out for the avg American citizen, a little “now would be a good sell” statement from President Transparency would be a huge help just like it was in March when he told us to Buy.

By: teomax

teomax — Thu, 10 Sep 2009 21:15:52 +0000

tpc
whats your outlook on 3q reports?
you made outstanding call with 2q, so thats why i am asking.
i promised myself not to short before 3q, but didnt held my rules and feeling a big pain now…

By: Awf

Awf — Thu, 10 Sep 2009 21:12:36 +0000

TPC — if your are truly long the dollar–you are holding a weak
hand.

Anyone can see -The dollar has broken support on the chart not good for those long the dollar.

If you have to be long– be long metals

By: Paul

Paul — Thu, 10 Sep 2009 20:43:16 +0000

Crazy as it might seem, it will be 1,100 or 65% since March with another 5 or 6 more days like the last 5. I said several days ago it could repeat 8/17 so far it has come true….. amazing mkt….

By: prescient11

prescient11 — Thu, 10 Sep 2009 20:40:42 +0000

TPC, do you really think that Japanese auto manufacturers are going to stand for such a weak yen. They run that damn country and they are already screaming the yen is too strong at 95. I bet they’re loving it at 91. New government may try the good old beggar thy neighbor once in a while.

By: TPC

TPC — Thu, 10 Sep 2009 20:30:52 +0000

Henry,

I think the puts in gold are purely for protection.

By: TPC

TPC — Thu, 10 Sep 2009 20:14:35 +0000

I like the dollar too, but I am down on it since I bought it. Not much, but…..

By: prescient11

prescient11 — Thu, 10 Sep 2009 20:04:33 +0000

oK, CONTINUED FROM ABOVE.

Direct correlation is NOT with inflation but rather credit risk. Big credits risks out there, thus gold rises.