FED

Well a real up and down day, see saw nothing new it seem to be how the market will be for awhile. Big surprise is we didn't have a turn around tuesday and the early strength could not hold up the news from the FED. It is almost impossible for me to think why would the FED say or do anything here. All the big money is doing nothing and the FED being the biggest have been behind the scenes trying to boost up the financials with result. The news of over 7 trillion assistance from the FED to the banks is just amazing, it makes the TARP look like a joke. Volume is low now into the end of year and Santa Claus rally is just that a figment of the imagination just like everything else. On a side note we rallied hard after thanksgiving on the great sales data but like many I would really thinking how can the retail sector show any real turnaround. I though it was just heavy sales of low margin items and sales. Today news from Best buy proved my thoughts but I must admit I was think of scared to call the retailers as a short then but a good call it would have been.

Silver

Oh yes Silver taking it on the chin early monday premarket. More to come. This is more likely be the last week of the year for most traders. It should be an up week as we have many IPO on tap but this market is so crazy who knows especially when we get whip around by the Euro news. We will see soon enough.

Silver

Could be totally wrong here but silver looks like a short here

Rollover

To add to the confusion here today it is rollover day for many futures contracts. The S&P March 2012 are trying at a negative 7 points differential and Oil is also lower. I guess he big money thinking we will be lower in the new year.

Crazy morning again

we have lost 20 S&P POINTS IN JUST 40 MINUTES with the EU news and the market is not even open yet. Crazy - Just too crazy for me

Layoffs

so Citibank announced layoffs yesterday and today BAC starts their 30k layoff process, so if the banks are so much in a better state and the unemployment now down to 8.6% why are we having this news?? It is all garbage!!! Last week I read that the FED secretly loaned big banks the same banks that got 700 million TARP money over 7.7 TRILLION of funds at zero percentage after. Now just think about it the public almost over threw the politicians for passing the TARP giving 700 million but the FED loaned over 10 TIMES that amount after the distribution of TARP funds, AMAZING how no one thinks the FED doesn't run the state of the economy. The FED is the most powerful institution in the world and I will continue to say that. In the meantime I think banks will get smaller because their is just not enough risk out there for them to make super abnormal profits like once upon a time, why do you think they want to charge $5 a month for debit cards. It is obvious the banks are struggling to make money especially the investment banks just not enough to spread out these days..... If it is tough for the banks what about the rest of us!!!!

Downgrades

S&P Put Europe's AAA Countries (Germany, France, Holland, Austria And Luxembourg) On "Creditwatch Negative"