Friday, July 17, 2009
WHATS UP DOC?
Yeah just what is up? Is this whiplash ala GOLDMAN, or is that 4 TRILLION of sidelined money gonna buy all the US DEBt and leave enuf left over for a stock market party? Everyone LUV's a party, and no fund manager or hedgie wants to be left behind.
Now I dont know WHO is holding the cash, nor did I refer to the fixed-income or currency trading sections to see if the 130 Bil of debt the Treas had, was a bang-on sale, but it did occur to me that the market was more resilient today on less of a liquidity pump than before. MEANING ? Apparently more Bang for the Buck, even tho CIT threatened to tank.
Me, I look for a "Wall of Worry" to see whether we are being walled in, or in fact this is a series of steps.
No, this is not an all clear. BUT this is a "Watch your stops, and dont get shook out of long positions unnecessarily. I really dont care how it plays. More its about being on the right side of the play......