general market comment The banksters appear to have stopped the hemorrhaging (at least temporarily). The shorts are getting nervous again. Rumors are swirling around that "something" is in the works and that all will be solved with one simple click of a mouse. We'll see about that. How many times have we heard this? Anyhow, if this turns out to be true, then we will witness one mother of a short squeeze in non paper assets. I'm not totally convinced this is the desired outcome. One wrong move, however, and the market pounces once again. It has run out of patience. IMHO, things are way more fragile than meets the eye. The FB IPO is proof of this. Clearly the objective of that exercise was to extract as much money as possible from every ma and pa out there and then simply walk away without even batting an eyelash or breaking a sweat. Even the banksters know time is ticking and are running for the hills grabbing anything and everything they can get their hands on. The time for being subtle has long passed. At the end of the day, these silly games benefit no one except for the few folks that happen to be pulling the strings. The powers that be are at the very least replaying the same movie we saw last summer. Perhaps, there will be an alternate ending this time around and it won't be a happy one. Anyway, I figure it should be a relatively stress free weekend for the boy and girls over in Europe. ;)
GLTA