Wednesday, June 8, 2011

8 June 2011

 McClellan has been breaking down hard the past week.  TSV headed for second standard deviation.
This is RBS.  Much like my BAC and C call in mid March, I hope I'm right again.  After looking at AIB, NBG, LYG, I really have no idea how this pattern will resolve to the upside.  However, as a person who generally buys strength and sells weakness, I will admit it has been holding quite strong.  Definitely not going to buy once my breadth indicators start resolving to the upside. 
 VIX shows the general complacency of the past month despite a decline and a lot of stocks getting hammered.  Still below my red trendline and still hasn't closed outside its BB.
 Medium term working on 75% hold short.
Short term at around 83% hold short.

I see the President wants to encourage hiring by having a payroll tax break - I wonder how they'll deal with less revenues and no debt ceiling raise.. Oh that's right, corporations don't pay taxes (see GE) anyways...I mean can't they do things like take clients to ridiculously overpriced (artificial demand) NFL/NBA/NHL games and claim it as a business expense?  Or claim trips to anywhere as business expenses as long as they talk to someone about business?  Gotta love politicians making laws to help themselves and their buddies.  I feel like I'm living in a nightmare.

And this Weiner guy, who cares?  Aren't there bigger things to worry about?  I'm guessing his wife likes Hillary more and Hillary likes her more than Bill.  Both of them ended up cheating/trying to because they weren't getting any on the home front.  

I see all these license plates and bumper stickers where people stick themselves in some special interest group.  I feel like our country has degraded to every special interest versus every other special interest.  I want to get a bumper sticker that just says "Member of Human Race Special Interest Group."

Saved the comments for the end so they are optional for you, the reader.

"Most ignorance is vincible ignorance. We don’t know because we don’t want to know.”
Aldous Huxley

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