gordon

Hoping the Housing Crisis Is Over

Jim is 1 of the best, I read his stuff on financialsense.com, where I urge readers to go. I am convinced Paulson arranged the TAF , an open-ended Fed-White House checkbook, to prop the market, running $400 Billion so far, borrowed @ 2.25%, renewed every 28 days, it's now obvious to many writers. They are buying SPY/DIA cash futures, trading them between themselves in offices in different countries, Goldman, JP Morgan, Merrill, primarily. Even Bank of America is now pissed this money-train isn't available to the traditional banks, they commented on it last week, it's not a level playing field if not a member of the "Working (Overtime )Group".
They are pushing it up to break the 80-week $SPX moving average to cause a massive short squeeze, the market indices are all climbing to important technical levels, only the broker-dealers could conspire this. Foreign inflows, domestic inflows aren't happening. Much of this practically- free money (m3 running 18%) is being traded in energy/agricultural commodities, according to financialsense and other sites. Connect the dots. Paulson, in his final turn of the knife on American middle class, has given his elite rich buddies a commodities speculating playground, while the average taxpayer will be crushed by ever higher gas, food, for years. Stagflation. Bush's final farewell, like he said a year ago, " I think... I AM still relevant"
Play by the tape, not emotion. A break of $SPX 1440 means you need to be long, until wrong.