Should I be Skeered Now!

Faith is taking the first step, even when we don't see the whole staircase - MLK

Where are heading Wednesday?

Not loving the stock market today. It seems like everyone is gone to the beach. Watched the ES do a good song and dance for the first two hours, then perform a swan dive into the close.
The chairman is due to speak tomorrow, and this could get ugly very quick. Chm. Bernanke could throw a wet blanket over the market with inflation rearing its ugly head here. So, I won't care much about how we open, but I will pay close attention to market gyrations later in the day. Last time he made a bold statement, traders took offence to it. And they punished stocks. We have since recovered from there, but there's still some jittery sentiment out there.


Seeing that we're at a top here, it would not surprise me to take off a cool 4 percent of the major indices, then wait for the fall to get a better gauge of where we're heading.
So, Forex traders are looking to the Chm. to give them some direction after last debacle which he cleared up later. But with his term coming to a close I don't think he really wants to make any surprising announcement. He might be thinking about legacy, here.

Need some money in a hurry? Don't ask your friend, or a family member. Just go to a perfect stranger. Money doesn't cozy up to you when you're broke. Let's face it, times are getting difficult to make a living in the market. Trend trading have run outta steam up here. We're just whipping around but no real movement
with conviction.

I was in a chat room today, and traders were talking about the All Stars game tonight. But the funny thing was, that the main attraction they were talking about was, get this - CitiField,.. Are you kidding me!

Well, eat my shorts if that's not boredom.

No recommendations.

Chao!



The views expressed here are solely my own, and I make no recommendation, or suggestions. I don't pretend to know what I'm talking about, but I did stay at a bedbug infested motel last night, close to the Ice machine!