Wednesday, December 8, 2010

8 December 2010

Mainly, I'm just amazed that the Nasdaq still managed to go up today after the large reversal yesterday.  However, it still looks like A LOT of stocks went down.  Upon going through what has now entered the short-term down category, it appears most are resource stocks (URRE being an example).  Banks did well today.

I don't really feel like posting tonight so I'll just put a few charts:

 Red close on McClellan when Nasdaq closes up .5%, Huh?
This massive drop also didn't show up in the indexes.

One still bullish thing is that that Dow-Transports is still quite a bit above its old high, while the Dow hasn't confirmed.  Transports generally lead the Dow.

If the stock market doesn't go up on 0% interest rates, QE2, constant POMO or Xmas rally, what is that saying?

The Daily Show With Jon StewartMon - Thurs 11p / 10c
The Big Bank Theory
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Money is condensed, preserved labor. The fact that a single man you've never met can dilute your life's labor in order to "help us all (which really means the Govt and the monster banks)," should bother you. The fact that he also has the power make all of your life's labor and all your expended passion worthless in a second should enrage you.

Democracy is a pathetic belief in the collective wisdom of individual ignorance.
H. L. Mencken

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