Thursday morning is the first trading day of the September CME equity futures contracts - they become "top step" in the pit. Because of this, Trading Advantage will be trading September in the morning. The June contract will continue trading to the end of next week, but as each day passes volume will decrease in June and increase in September.
The market was extremely quiet Wednesday as there was no major news released. Even the Fed’s Beige Book report failed to spark traders. When the closing bell rang, the market had notched its 6th consecutive loss, which is the first time that has happened since early 2009, which just happens to be immediately before the announcement of QE1.
When QE1 ended the bankster thugocracy was apoplectic; it demanded more hand outs and delayed regulation. Chairman Bernanke then dreamed up his own mandate for the Fed, a “third mandate,” which was to rig the stock market to do his bidding via QE2. Once the market had fallen enough, Bernanke and his lackeys in the FOMC instituted QE2 and the next leg of the centrally planned rally was in place.
Now that the market is falling again out of fear of the end of QE2, many are calling for QE3 right now. Anyone who cannot see the DIRECT RELATIONSHIP of Comrade Bernanke’s actions and the stock market is blind or willfully ignorant. The Fed, for the time being, denies more easing is on the way (soon anyway).
In the interim, I believe another failed tactic will be implemented yet again by an equally confused man in D.C.: the president of the United States. Although Barack Obama loathes tax cuts of past administrations and current congressmen, he sure finds it palatable when it suits him. Just this evening it was reported that the White House is kicking around the idea of another fiscal stimulus! Well, “let’s be clear” as the president is fond of saying; the White House is kicking around the idea of BORROWING MORE MONEY FROM THE CHINESE to then give away as a so-called stimulus.
From Bloomberg:
The market was extremely quiet Wednesday as there was no major news released. Even the Fed’s Beige Book report failed to spark traders. When the closing bell rang, the market had notched its 6th consecutive loss, which is the first time that has happened since early 2009, which just happens to be immediately before the announcement of QE1.
When QE1 ended the bankster thugocracy was apoplectic; it demanded more hand outs and delayed regulation. Chairman Bernanke then dreamed up his own mandate for the Fed, a “third mandate,” which was to rig the stock market to do his bidding via QE2. Once the market had fallen enough, Bernanke and his lackeys in the FOMC instituted QE2 and the next leg of the centrally planned rally was in place.
Now that the market is falling again out of fear of the end of QE2, many are calling for QE3 right now. Anyone who cannot see the DIRECT RELATIONSHIP of Comrade Bernanke’s actions and the stock market is blind or willfully ignorant. The Fed, for the time being, denies more easing is on the way (soon anyway).
In the interim, I believe another failed tactic will be implemented yet again by an equally confused man in D.C.: the president of the United States. Although Barack Obama loathes tax cuts of past administrations and current congressmen, he sure finds it palatable when it suits him. Just this evening it was reported that the White House is kicking around the idea of another fiscal stimulus! Well, “let’s be clear” as the president is fond of saying; the White House is kicking around the idea of BORROWING MORE MONEY FROM THE CHINESE to then give away as a so-called stimulus.
From Bloomberg:
President Barack Obama’s advisers have discussed seeking a temporary cut in the payroll taxes businesses pay on wages amid economic reports suggesting the recovery is slowing, according to people familiar with the matter.
The idea, in preliminary stage of discussion, is among several being debated in the administration with the aim of boosting hiring, the people said on condition of anonymity to discuss internal deliberations. The unemployment rate in April rose to 9.1 percent, the highest level this year, and the economy is a main focus of the political debate in Washington.
None of the prior major stimulus packages worked from either Bush or Obama. None of the directed stimulus packages (housing, etc) worked. None of the $trillions of stimulus from the Fed has worked. Sadly, NONE of this matters to the debt-junkies in D.C.
When this proves to be another epic failure and the petulant bankster cabal cry, scream, and demand more monetary “stimulus,” Benron Bernanke will step in with more free money that will do nothing. Call it QE3, call it the Benny-Bux Program, or call it the Magic Money-Crapping Unicorn Program - it too will be another epic failure.
Hold on to your wallets!
Trade Date: 6/8/11
E-Mini S&P Trades*
(before fees and commissions):
E-Mini S&P Trades*
(before fees and commissions):
- No “Secrets” trades filled today.
- Algorithm positions (2)
- “Reading the Tape” positions (3) …combined Secret’s, Algo, & “Reading the Tape” total… -1.25
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