Saturday, May 30, 2009
Late day jam up
Yesterday's end-of-month, end-of-week, end-of-day high volume jam up of the US market was certainly a sight to behold; and not a pleasant sight for those of us holding short positions.
This was not a news-driven event, but appears to be the result of a large, panic-buying, short-covering, take out the short stops spree.
It also, perhaps not coincidentally, briefly touched the technically significant 200 day moving average on the S&P. While I do not generally subscribe to the many conspiracy theories regarding stock market movements, this one does not appear to be random or news-driven.
More here.
Such is the entertaining stuff that bear market rallies are made of.
The Path to Marxism
For years America has been on a pathway to leftist collectivism. The movement has been in fits and starts, but it has been decidedly one way. During the past year, the country has taken a headlong great leap forward down this path. This is not surprising, since historically periods of economic turmoil have provided fertile ground for the advancement of Marxist principles.
Throughout modern history, Marxism has always been highly seductive to the ignorant. And when the people are in the mood for Marxism, their politicians are all too eager to provide it, since, politically speaking, it is the easy way to power.
Of course, Marxism always ends in bondage.
Throughout modern history, Marxism has always been highly seductive to the ignorant. And when the people are in the mood for Marxism, their politicians are all too eager to provide it, since, politically speaking, it is the easy way to power.
Of course, Marxism always ends in bondage.
