An "expert" on CNBC calling today a "snap back" rally. He says market fundamentals are good. He also says that today's rally has a "short gamma effect." I guess if Ken Marschner spews some bullshit out- we can take it to the bank. Maria Bartiromo doesn't look so good to me.
Check this out. It will have you on the edge of your seat. I promise. http://www.optiontradingtips.com/greeks/gamma.html
Today's vote in the House is going to have a short gamma effect on the pocketbooks of 2 million Americans. No unemployment benefit extensions. Sometime after Dec 1, the unemployed will have to start bumming money from the relatives or use Ken Marschner's advice to score some short term gains.
I can hear the whining now. Oh, those evil Republicans. Right before Christmas. The inhumanity of those bastards. The lefty blogs will be buzzing. Just checked Huffington Post and snipped this headline. The Plot To Ruin Christmas: As Holidays Approach, No Plans In Senate For Vote On Unemployment Benefits
Here's the good news. When these two million people fall off the unemployment count and it legs down to 9.1 or so, the nanny government statists can take credit for "fixing" our economy.
Maria is on again with some other guy claiming the economy is improving. GM now selling off. The winning streak continues.