Wednesday, February 16, 2011

Tuesday Was an Aberration; Move Along, Now

Didn't I tell you all yesterday that stocks would be back up today. Tuesday was a one-off. Wall Street has to do it every now and then to convince the sheep, er, peep, er, sheeple, like you, that it's all on the up and up.

It's not. It's fed by the Fed. Buy silver. I have little more to say, but, in a nutshell, we're back to feudalism, and the banksters and politicians are the lords and you, me and anyone with either a job or a subsidized existence (it's becoming more lucrative to filch, in fact) are the serfs.

Fuck 'em. And prepare for Amrageddon.

Dow 12,288.17, +61.53 (0.50%)
NASDAQ 2,825.56, +21.21 (0.76%)
S&P 500 1,336.32, +8.31 (0.63%)
NYSE Composite 8,453.76, +70.09 (0.84%)

Advancing issues stomped all over decliners, 4678-1882. NASDAQ new highs: 202; new lows: 32. NYSE new highs: 335; new lows: 13. Volume was solid, for a change. There must be a ramp-up coming. Everybody's all in. Oh, that's right. Options expiration Friday. How could I have missed that? It's where all the money is being made.

NASDAQ Volume 2,289,703,250.00
NYSE Volume 4,453,836,500

Crude oil got a bit of a boost by Iranian warships entering the Suez Canal en route to Syria, up 67 cents to nestle in at $84.99. Gold gained $1.00, to $1,375.10 and silver was down 7 cents, to $30.63. Nothing to see there. Move along.

Tomorrow, the BLS offers the latest in a series of comedy sketches otherwise known as unemployment claims prior to the opening bell, which, in case you haven't noticed, is not a bell at all, but the same sound used in casinos world-wide when a one-armed bandit pays off, even more proof that Wall Street really is one giant casino.

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