Tuesday, December 28, 2010

Wussy Gov Gets Game, Economic News Bad- POMO Market Will Ignore It, Gold and Silver Blast Off

The Pennsylvania Governor will get his Vikings-Eagles game tonight. This after calling all of us wussies because some upper crust NFL types saw fit to practice a little blizzard caution on Sunday.

How 'bout them Saints?

Let's hope Governor Rendell stays away from local news. He may discover that some fully grown adults actually fondle and molest children. He will then call us a nation of "cho mos." That is slang, ya know, for cho mos'.

I have followed Michael Vick's (aka Ron Mexico) career closely. From Virginia Tech, to Atlanta, to yelling at him because he could not complete a ten yard pass, to giving out anonymous herpes, to dog fighting, to prison, and back to the Eagles. I think Vick is just some crazed kid that won the DNA lottery for football skills. I have been secretly rooting for him. I believe in second chances. Dude has actually been throwing the balls to his receivers rather than the turf. Tonight, I will be rooting for him and the Eagles despite Governor Rendell behaving like a dipshit.

All of today's economic news is shitty. Not to worry though. The stock market is now owned by the FED and Brian Sack at the NY FED is scheduled to give member banks another 7 billion bucks to buy Apple stock. A brief rundown. Consumer confidence was a huge miss, Case Schiller home prices declined again, the European Central Bank had a failed auction, China said they were cutting domestic car sales in half or about 400,000 which will not be good news for the new Ford plant in China. Oil up again and bond prices are down. All of this news and bet me, the market rises by days' end. We are two hours in to today's trading. Behold the power of 7 billion dollars worth of POMO.

All of the floor traders took the week off. Good for them. Computers will do all of the buying anyway.

Gold and silver up 1.5% and 2.5% respectively. That pesky gold and silver. Seems that unlike the FED owned stock market, gold and silver seem to actually behave independently and rationally given all the news of the day. It's nice to see at least one market, the metals complex, behave predictably.

I am kind of bummed. I was going to buy more gold and silver today. I buy on dips, but I might just buy some more anyway. I have a feeling that JP Morgan lied about covering it's enormous silver short position. They probably use POMO to unwind those positions, free of charge, so to speak. Read that story here. http://www.freerepublic.com/focus/f-news/2642214/posts

Here is one of the architects of our ongoing disaster. Blythe Masters, credit default swap queen and silver shortress at JP Morgan. I have forever etched her face into my memory. Kind of like I used to do with those cho mos' pics on wanted flyers. http://seeker401.wordpress.com/2009/12/10/blythe-masters-the-lady-who-invented-cds-is-a-key-architect-of-carbon-derivatives/

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