Ignore the news just like the market is.

Dec.04, 2008 in Market Outlook

At this point, it’s on cruise control, and headed in one direction, up. Yes, I know it “should be” at 6K by now, and “should be” dropping like a rock based on the never ending flow of poor data, but as you can see, it’s not.

This morning is another pefect example of what we’ve seen over the last 2 months. Companies are warning for 2010, and the “Futures Edge Higher”.

The Big 3 could go bankrupt, Korea could fire a nuclear missle, and the DOW 50 could warn for 2011, and the market is still going to “rally”.

The US Stock Repository is operating totally independent from the economy, devoid of common sense or reason at this point. It will “rally” come heck or high water.

I haven’t shorted the market in my 30 years of trading, and I wouldn’t be doing it now. We could have job losses of 800K on Friday, and we’ll have a 900 point “rally”.

Simply put, you can’t fight the fraud, and the FED has a lot more printers than we do. It’s obvious now that they want the market higher, and will absorb any amount of selling, turn the tables, and manufacture a last hour miracle “rally”.

Be careful. You’re not dealing with a true market. You’re dealing with a manufactured fraud that has a mind of its own.

Did you like this? If so, please bookmark it,