Having checked in daily to see the trends it seems we may have a Grinch in our midst to some, but I doubt it the case. No, not because I'm long but because what some think as OK in our world economy is really a house made of paper.
The housing that the current bubble burst upon was at least made of something concrete and to many it was shelter. But the current paper printing is built on nothing. Not even gold. The Chinese know this. We are long past our ability to meet our debts in monetary value and in GDP value.
What's the evidence? Congress had to extend the debt limit by $280 billion. When asked if it was feasible not to, it was told that with out debt we'd last 7 minutes without the extension.
Think about it ..7minutes.
What else? Well, FNM and FRE are asking for $440 BILLION each. Why would they need that if everything is doing so well.
What's coming? Do as we are told by a world economy which still has no realization that this rich country's death is their own demise too. Except perhaps for one, which has slowly accumulated property everywhere along with its gold; it's a Grinch all right, but one perhaps without the capacity of a large generous heart. Yet in this world which ultimately follows rules of survival, it is as it should be.
The PLAY LIST of which there is only one or two. If you watch the S&P it's still the same story:
I posted this earlier today on StockTwits but we have already sliced through it:
What's next is 10231 area and below is the 9800 I mentioned a while back. Will it happen this year or next? I have no crystal ball and I don't wish doom and gloom. If I'm wrong, I'll be elated, if I'm right, I'll be prepared.
Happy Trading, Living and Dancing