A chart and a rant.

We have all gone crazy!! Lets start with the chart, There is a solid trade channel in light blue there. Also one in red... wish I knew how the red one worked.. Oh, it's extrapolated off of that Heavy red trend line.

I'm going to say I'm cautiously bearish... I was more bearish until I saw that big breakdown in the last few minutes.... One can suggest that it was and Early "Sell the news/Hope" on the passing of the stimulus...... But Eric, You ask... Why Cautious.... are you hedging?... Well the after market action had this "Panic" aspect to it.... and that makes me nervous.... It's the contrarian in me, the after market action is as wrong as the futures.

But to stick with technicals... Look at that in 3 ways... There is the potential Light blue and red downtrends... And the potential for some form of head and shoulders.... But let me point out that the target is 87 spy....

but to be Diabolical.... It all could be a Lie, and we are going to shoot upward...

In my listening to fast money and Kudlow, it confirmed my thesis that Action like this is universally bearish.... Who wants to risk money High difficulty technical analysis, with little upside or downside... Umn... I think Jeff Mackie implied that Teranova was a lier..... All of that sounds universally bullish.... LOL!!!! But... watch the trade channels, and look for that break of the head and shoulders... for that brilliant 4spx pts of upside... which to be diabolical could launch us to the moon.... and be followed by some mercy-less crash..

Now the rant.... We have all gone crazy, I had a nice letter from some anonymous source(Dead Serious here) No return address, had some wierd nebulous title, which was "The banks are skrewing us." Attached was a cut out newspaper, which was cut by a Machine BTW.. but gave the impression that it was cut out for me, by the anonymous source... refered to as only "J". It was Clear Political Fear Mongering... at the bottom of this "News paper article" was a reference that this was actually a dramatization/Representation of a news story.

I talked on the phone with my mother, who was hinting at that similar meme. Comming from NPR. Ok, I hate these guys. do not get me wrong. But this Credit system is exactly what we have created. We reap what we Sow. It's a mistake to switch from the Credit financial system then somehow pretend that this isn't the system we have, and bite that hand that feeds us... Or the hand that gives out the financial crack/credit.

Here is my rant, Just as the bankers need to deal with the consequences of their actions... So do we. There are no shortage of "citizens" who used to have jobs as mortgage brokers. no shortage of people who speculated in real estate. No shortage of people took advantage of credit cards.

And as much as we had that nice side show in congress... the slight of hand is that Those assholes deregulated the banks.... MORE THAN THAT... WE ELECTED THEM!!!

I've said it before, we are all in this boat.. and it's all of our faults... Hell I'm a highly skilled productive member of the working class. And I refuse to work at regular jobs... how can Business work if they aren't exploiting me...

and The bankers still don't get it the number of financial products sold in the next decade will be SMALL... and there are 100X too many bankers to sell them. The age of the Banker is over and they will pay... just out of hubris.

Let me just hit some more crazyness... Whatever this crazy conspiracy about Judd greg and the census is some crazy conspiracy theory that I just don't get.

Kudlow was more full of it than usual tonight.

The republicans were against transportation as part of the stimulus, because... somehow those jobs are useless.

In my Yoda voice "there is something going on with the force."