ain't no fortunate son

S&P 500 Short Sales Reach 5-Month Low

Well, that's the first thing I look at when the reports come out - prior downward revisions.

Unfortunately, the market doesn't seem to care a bit about that - it just ignores the bad revisions and chugs on up, blitzing the shorts which as Trader Mark says end up getting run over by that oncoming freight train. That has included me once in awhile, effectively giving back much of my March-early April gains.

I'm out. It is so obvious that there is massive intervention on the part of government dollars being funneled into equities in order to slap lipstick on this pig and keep people optimistic about a situation that is deteriorating rather than improving - ie., housing, employment, but you just can't fight city hall. I keep expecting a trap door to open, and stocks to sell down hard, but it doesn't happen, and the government - induced short squeeze just rolls on.

But I'll be damned if I'm gonna be the last fool in when the truth finally does out the fiction. I didn't do it last summer, and I won't do it now.