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| Futures are flat this morning, yesterday's sell-off on the S&P downgrade of US debt was a bogus non-event but the market sold off. I suspect this was a short-lived phenomenon as OWEbama has downplayed it and it will be the same ole same ole soon enough. QE3 (to infinity). The breadth was poor and volume was heavy in am sell-off and light in the buying stage yesterday. Since i am no longer short odds are this market will crash. Sometimes it is as simple as that. |
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| Bonds have been rallying of late, I wonder who is buying? Its not China, Japan, India, not Billy G I wonder who it could be? |
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| Before you get excited about the dollar catching a bid remember who is in office and who is at the Fed. OWEbama already said fogedda boud it to the debt rating agency. In a couple of days it will be business as usual. BTW the yellow line is where the UUP was at the worst point in the 08 financial crisis, we are well below that now. |
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