Monday, December 03, 2012

Futures are FLYING this morning, DOW up about 42 points, as Europe has solved ALL their problems, and the BOOM years are back in China, as their PMI came in over 50 for the first time in seven months, sub 50 is recessionary while over 50 is in expansion, it came in at a WHOOPING 50.5, and Chinese traders celebrated by taking the Hang Seng Index DOWN 1.2%, hahahahahahahahahaha, more than enough reasons for our markets to be higher.
The NasDOG index is up 14 points, you can barely see it on the one hour chart at the bottom, the daily chart at the top is showing the virtually uninterrupted rise back to the neck line of the previous head and shoulders "area", PERSONALLY, meaning, ME, MYSELF, and IRENE, would probably consider a short UNDER the lows made Friday and Thursday, there's no particular reason to short it, other than pure orneriness.
I was watching Jim O'neil of Goldman on squawk box, as they upgraded DELL, MLM, and some others, OBVIOUSLY, upgrading stocks that they LOADED up on Friday so they can sell into the dumb ass retails today, and he was talking about how the markets will FORCE the hands of the idiots in DC to reach a deal and avoid the "CLIFF", and I was thinking to myself, hhhhhmmmmmmm, let me get this straight, the markets are FORCING the hands of DC by, GOING HIGHER????? Hell, all they are doing is ENCOURAGING THE BASTARDS!!!!!!!!!!!
Just a "personal" note, meaning I'm just talking about ME, I won't be buying Alkie, AA, or ANY of those things on a GAP UP this morning, I'll wait for a better pull back entry, I mean, Ya Ya Ya Ya Ya, they could gap up and just keep going higher, wad ever, they'll go with out ME!
If you are in the NasDOGS, I'd hold on, a move over $66 "probably" opens the door to $68.

AAAAAAAHHHHHHHHHH..........HAH! NOW, I see why Europe is FLYING this morning:

Italy Retail Sales Sharpest Drop in 17 Months; Germany Retail Sales Stagnate as Margins Squeezed; Eurozone Retail Sales Drop Sharply

Dismal economic conditions in the eurozone accelerate to the downside as evidenced by falling retail sales. Let's take a look at the Eurozone in aggregate, as well as the three largest countries.

Eurozone Retail Sales Drop Sharply

The Markit Eurozone Retail PMI® shows Eurozone retail sales continue to fall sharply towards end of 2012.

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