Can of Whoop Ass on Chairman Bernanke

The esteemed Chairman should really have a Col. Jessup Moment Here!!! Congressional nitwits. The truth, I am thinking a lot of skulls were cracked in the name of preventing a cascading down fall of the entire financial system!

Regulators crack down on Twitter...Good work Guys

It gives me tremendous comfort in knowing that in the middle of the worst bear market in several generations, the Regulators, have focused there laser sharp acumen and powers of enforcement on the insidious evils of Twitter? You read that right, tweeting advisers are now under the microscope of the SEC and FINRA. Great Work Guys. A generation of Wal Mart greeters has just been created due to market losses incurred in compliance approved investments in retirement accounts. These same regulators, through botched policies and favoritism of a chosen few too big to fail institutions are complicit in sending trillions in retirement savings to money heaven. In the wake of Bernie Madoff incinerating billions from rich and poor alike, and Sanford Investments doing God only knows what malfeasance he specifically committed, 140 character dispatches seem to be the appropriate place to focus. I think I had best let it rest at that, lest I prematurely launch into my upcoming Magnum Opus on the failure of the entire financial advice machine, the regulators, credit agencies, et all in actually doing there job. I hear a glass or two of Shiraz calling me. Pssst...... Hey FINRA, you dont scare me....... Bring it ON, blue horse shoe likes Teldar Paper!

Pull those pistols Bulls or whistle dixie!

One of the all time classic movie one liners. Far and away better than the "well do you feel lucky punk" of Harry Callahan Fame. But the line is very telling for the current tape. If the oft quoted "green shoots of optimism" crowd is so full of conviction for much more upside, now is the time to pull the pistols. 890 on the SP futures is a big pull back from the double top of 953. I am with the outlaw Josie Wales and getting plum mad dog mean and girding for a slide to at least 875, followed by a feeble grab for the holsters by the Larry Kudlow Crowd back to 915 before the whole can o whoop ass gets unleashed over a long hot summer. This is just one players opinion as he struts and frets his hour upon the stage, should the situation change, so will we. Stay nimble and good trading, comments appreciated.

Twas the best of times it was the worst of times

It is amazing how many times these days when I let people know what I do for a living I get a pained look of sympathy, as if the beloved family pet had just fallen victim to the tires of a front end loader. When in fact now, right here in this moment in time is one of the absolute best for an adviser with the fortitude to have an opinion, and make investment decisions, to be in the business in my 15 year tenure. I sometimes explain it crudely that if one runs a muffler shop and ALL the mufflers in the country suddenly crapped out, you would be printing money replacing mufflers. Today we find ourselves perhaps half way through(there I go again with an opinion) the second market meltdown in 7 years, where property values fell right along with financial assets, and people are crying out for real advice and leadership. I feel that 99.9% of the financial advice machine are useless posers, at best gathering assets to feed a decrepit and collapsing system, with little concern for clients and even less knowledge of how to actually advise and make money. At worse, well they are.......worse.

I am convinced that we are in an era where allowing mindless asset gatherers to hurl your future at some cookie cutter product under the guise of Modern Portfolio Theory, is the road to sure ruin. What will be successful is actually advising. Buying equities when others are crying and selling when others are joyous. There will be times when one wants to own gold, and heresy
I know, but sell or actually short gold. Bull and bear markets will present themselves in commodities and currencuies and fixed income and foreign stocks, and for those who remember they have a pair, and can catch a piece of any of the moves, you have the world on a string. For too long as a nation we confused brains with a bull market, and it has come home to roost.
As I find myself competing against a pack of phonies in suspenders and multi colored shirts, I could not be happier to be in this business. Dont cry for me. So here is to us and those just like us, damn few left!

My friday morning cocktail napkin analysis of the market action, which I posted before the open, proved to be shockingly prescient. As I mentioned, quad witch days are best sat out, which is what I did. Our date with 875 on the ES will come sooner rather than later I feel, time to lead advise, and make money. Good Trading

Kim Jong Il take this!

Reports are that the USS John McCain making a full head o steam at flank speed to intercept rogue N korean freighter carrying banned missle or nuclear materiel. Tin pot dictators never learn! Perhaps Kim should puruse U tube for videos of the last moments of Sadam, His compatriot in the axis o evil, on the Gallows ! Go get um Navy!!

The many faces of Sybil

Apparently now the feds have decided to force brokers and other advisers to act as "fiduciaries" or actually in the best interests of clients http://bit.ly/z24ZA . Previously most commission based brokers although now called advisers are held only to a suitability standard, for example don't pitch Chinese solar stocks to widows and orphans. On the surface sounds great no? Essentially it is a bunch of rubbish. Without a doubt it would nullify much of the rubbish put forth from the financial advice cartel. Under the guise of "you cannot get sued for doing nothing," this will further duilute down anythng offered out of the financial advice machine to the point of putting forth little more than index funds, for a giant fee albeit. The trend of the last 5 or more years out of the financial advice mafiaso, is to have fewer advisers with gargantuan asset bases, operating on volume and low margins. This type of regulation I feel will further exaceberate that distressing trend. I am of the firmest opinion that to have even the slightest chance of success investing in the next 10yrs years will require advisers to actually ADVISE, shocking as that may seem. The utmost in creativity, activity and alternative thinking should be the order of the day. Herding investors of every stripe and color into the blandest cookie cutter products is a recipie for a lost TWO decades at best. A for effort Washington, D- for execution.

Quadruple witch Friday, one of my favorite days in the market, for doing absoluteley nothing. Sensless volatility will rule the day. My gun to the head guess is we jam the ES to about 923 to shake out any shorts, run it back down to about 911 and close flat at 915. As of this am we are doing exactly that. I think we have a date with 875 for the broad index in the nearest future, let us see how it plays out. Good Trading!