Another Low Volume Upswing

Well, somebody's making money, but there aren't very many people trading. Volume today was among the lowest of the year, and it's supposed to be busy.

Call it what you like, but a 166-point move on the Dow on near-record-low volume, to most experts, is absolutely meaningless and not likely to retain value for long. This market is so full of hope, desperation and inside dealings one could easily assume the only traders left will soon be gnashing at each other's flesh over the few bones left to be picked over.

Of course, this continuing ramp-up on the major averages come just days before the major banks release third quarter earnings next week, among them Citi, Bank of America, Goldman Sachs, Wells Fargo, PNC and Morgan Stanley. JP Morgan Chase already released their third quarter results and they were nothing if not laughable, so full of accounting gimmickry and false statements it's amazing anybody would hold even one share of this global disaster.

Sure, let's buy Apple at over $400 per share, or Google at $600. Most of us would rather stuff it in a mattress, which is the thought around the current war being waged on SAVERS, by SPECULATORS. There is no opportunity to actually earn interest in a savings plan, whether it be in treasuries, money markets, CDs or any other, so-called "safe" strategic asset. And the pundits, like the Reverend Jim Cramer, who say to buy high-yielding industrials, are whistling past the grave, because a stock like Coca-Cola (KO) sporting a 2.8% dividend and trading currently in the mid-to-high 60s, only has to lose two to three points in order to wipe out all of that dividend income. When the eventual market crash comes, the dividend checks cashed over the years will look truly pathetic to the lost value in the stock itself, and thus, your capital has been wasted, your savings destroyed.

Since the global banking cartel, in association with the spendthrift governments of the world, now control just about all major markets, including commodities such as oil, gold and silver, there is literally nowhere to invest safely except in unknown penny stocks or completely local. That's right, you're probably better off loaning the kid down the street $5000 to get his computer repair business off the ground than sinking your hard-earned-and-eventually-taxed-out-of-existence money into any Wall Street-related stock or scheme, and today's absurdly low volume on top of many previous ridiculously low volume days over the past year proves that people have not only lost money with Wall Street, but are rapidly losing their patience - see the Occupy Wall Street movement - and their interest in the future of big business in America.

As has been said before on this blog, the current economic climate is ripe for collapse, and the only investments should be in tools of trades and basic survival equipment. There's probably a good opportunity in firewood upcoming this winter, as the control fraud in heating oil and natural gas will bury even more families this winter under unbearable expense.

It is distressing, to say the least, to watch the European leaders lie about having a plan, making a plan, preparing a plan to save the continent when in reality all they can do is what the Federal Reserve is so expert at: printing more money and devaluing the currency.

And one final word, on this Herman Cain and his idiotic 9-9-9 plan which includes a 9% income tax, a 9% corporate tax and a 9% national sales tax. To put it into the words of somebody I know and love well, "this plan is another way for the rich to get richer and the poor poorer. Most of the people in the higher tax brackets love it because they're paying something North of 35% presently in income tax, and many of them have businesses paying a 35% corporate income tax. On the other end, the people who will be most damaged by this stupid gimmick of a plan will be the poor and middle class, who already pay no tax because they don't make enough money and would have to pay an additional 9% sales tax on top of the state sales tax they're already having ripped from their hands by incompetent state governments.

What is truly amazing about Herman Cain is that he is a front-runner for the Republicans on the basis of this plan. A Herman Cain presidency would plunge 2/3rds of the nation into abject poverty, and maybe that's part of the plan, to turn America into another stinking third world backwater. They're doing a pretty good job on it so far. Mr. Cain is about as fit to be president as Charlie Sheen. Actually, Charlie might not do such a bad job. At least his press conferences would be #winning events.

What a country, full of liars and thieves at the very pinnacle of business and politics.

Dow 11,644.49, +166.36 (1.45%)
NASDAQ 2,667.85, +47.61 (1.82%)
S&P 500 1,224.58, +20.92 (1.74%)
NYSE Composite 7,350.46, +121.38 (1.68%)
NASDAQ Volume 1,687,163,000
NYSE Volume 4,057,578,000
Combined NYSE & NASDAQ Advance - Decline: 5103-1362
Combined NYSE & NASDAQ New highs - New lows: 52-32
WTI crude oil: 86.80, +2.57 (Why?)
Gold: 1,683.00, +14.50
Silver: 32.17, +0.51