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Update for Me

The sidelined money is intense and the buying pressure strong from the fund managers.

But the motormouths and the controlled media have sharply increased the focus today that everything is going up because Europe is "set to announce the agreed upon solution".

Putting focus there is a Global Elite tactic.  And BTW, this weekend's meeting is now postponed to mid next week, "hopefully, no later than Wednesday".

Hmmm.

I maintain that the Re-Elect Obama campaign will require large monetary stimulus.  Since it is yet another temporary fix and not a permanent solution, the rally to the economy cannot be started with vigor until next year, otherwise it will diminish before the election period.

Most "voters" make up their mind who to vote for within a month or two of the event.  As long as things are going well and better in the economy through August 2012, then Obama has the best chance.

The up cycle on the first was Mar09 thru Apr10, about 13 months.  The second was Sep10 thru Jul11, about 11 months.  I will bet this trend continues and the third is Feb12 thru Oct12 or about 9 months. 

The Fed likes to have an overt plausible reason to enact and I see maybe an early Jan12 dip but overall I think it will simply be done with little strong advance notice at the Jan 24-25 meeting.

The little bit of overextension right now will pullback.  The more it drives north of 1200, the harder to drop much below 1200.  So I need to average any shorts as it tops up today, cover when it kicks back down to maybe 1190 something and then get long to capture the up.

It definitely will trend up thru year end after this next bump down.  Very hard to knock this market down now below 1200, very hard.  Real Power Elite kicks in the head and I do not see them cascading since it is obvious that "US recession" talk was BS.

Financials will retreat a little but the market is firming up its base.