Please Note: Blog posts are not selected, edited or screened by Seeking Alpha editors.

Surprised?

|Includes: DIA, GDX, GDXJ, GLD, QQQ, SLV, SPY, iPath S&P 500 VIX Short-Term Futures ETN (VXX)

With the VIX gone bi-polar to the upside, equity put/call ratios doing the same and the dumb money once again puking up positions, it is a slam dunk for the global financial manipulators; in the short term, anyway.



Stock futures surge on central bank actions

"Europe has unequivocally said, 'We will defend the euro's integrity,'" said Oliver Pursche, executive vice president at Gary Goldberg Financial Services in Suffern, N.Y.

What kind of hair-brained commentary is this Oliver? Think about what you are saying. You state that European counterfeiters are defending the currency's integrity by printing more of it and sending it down a black hole that will never offer re-payment. All it will do is amplify the current problem and increase its velocity.

An old friend, Chris Martenson used to talk of "hockey sticks" in his crash course. People, this is how hockey sticks (actions of exponentially increasing velocity) are made. These pigs - in the interest of keeping up appearances - are making desperate attempts to paper things over but in reality, for patient people anyway, are creating their own eventual demise.

For it's part, NFTRH84 had this to say (among a heck of a lot of other things):

Despite the wrong-headed advice likely to keep coming from the mainstream, and considering the reversal of sentiment as indicated by the VIX and the equity put/call ratio, it is time to talk of potential short-term rebound.

The VIX shows a clear picture of the manic and unhealthy investment atmosphere that
the conventional advisers would have the public buy into. How does a rational or healthy market go from extreme complacency to extreme fear in just a week?

Whatever, the VIX has come to a resistance level from which it may be repelled. The
conventional swamis will use the mini-recovery to sooth-say the herd. One can easily read a reverse symmetrical triangle into the weekly VIX structure. A reverse sym-tri is a reversal pattern (to up in this case). Any market recovery is to be sold, shorted into or resisted in my opinion. The market top is very likely in, as has been our theme of late, even before Thursday’s theatrics.

Caveat (because there usually is one): I was looking at a historical chart of the SPX last night and considering the power of last week's manic downside and the power of desperate hope, and based on what has happened during the making of previous MAJOR tops, we cannot rule out new highs before this thing takes the dirt nap.

It's just the way it goes. A lot of tests of discipline are upcoming.


Disclosure: Not long this market and not likely to be for quite some time.