Cold War Angst

Rudiarius

I had to take some time off from the blog as I went through the mascinations to fully extricate my self and my practice from the financial industrial complex(more on this later for sure). I formed my own RIA, hauled over all my clients and then a righteous slug of new $$, and son of a bitch does it feel good. Master of my domain! Now fully able to operate in the best interest of my self and clients, I intend to continue to thrash the pee out of this market. In the words of Colonel Frank Slade Whooo Ahh!

The markets? I think yesterday was a seminal turning point in recent action of this tape. BAC successfully jammed $13.5 billion of a dilutitive secondary down the throats of most likeley feckless retail types. That out of the way, the market promptly turned tail and began a fairly aggressive higher volume retreat. The release of the FOMC minutes indicating all the green shoots are perhaps in some serious need of a dollup of turf builder and a month of gentle rain, seemed to exaceberate the the selloff. The weekly jobs report this morning indicating a stubbornly high continuing unemployment couldnt be spun into anything remoteley positive and the markets are off a good 2%. I feel 875 on the S&P will be trench warfare as far as the tone of the markets over the summer. It is unfathomable that almost no one even mentions the possibility of a serious pullback if not an outright retest of the march lows. As the markets seem to move to confound the most participants, a moon shot to 1050 or a death spiral back to sub 700 are the most likeley outcomes, I feel. An orderly low volume pullback to 850 followed by a pre ordained resumptionof the rally is too text boook/fairly tail for my tastes. In either event, I see a lot of movement ahead from which to profit.