Monday, June 6, 2011

6/6 Daily Commentary

At the hotel, on our regular doctor trip to Albuquerque.  We'll keep to a monthly schedule for my wife for, hopefully, a long time.  This is the final check-up for her back surgery and prognosis is for long-term normal function.
Whenever I'm removed from the media I realize that my normal experience is the frog syndrome, and having a longer interval between bursts of news shocks me with the level of ignorance in our society.  Such lack of awareness of how things and the world work used to prompt me to chip in a quarter to the poor unfortunate's kick.  Now I'm looking at the same conditioned view of reality amongst people that share the vote with me.  The latest shocker is the American jewish subculture.  This group has traditionally and profoundly voted Democratic.  Whenever a bloc is built around a single issue they become blind to other realities.  They voted en masse for Obama not even realizing that he was a closet Muslim from a Muslim father and personal affiliation with black Muslim America.  Now we are beginning to see transformational revelation taking root.  When herding within a belief set, the possibility of transformation exists when the veil of lies surrounding the shared world view surface.  We could see American jews turn to the Republican party in great numbers, which is where they belonged in the first place.  I think their orientation was created by jewish media stars that were themselves herded into the liberal persuasion.  Striesand, anyone?  If your livelihood exists because of sympathetic awareness on the part of producers, directors, and agents then you will adopt the herd's view.  That is Hollywood.
DJI tested April 18 lows today, cash and futures.
Nasdaq is still a step away from the April 14 lows, while SPX closed below them.  However, while breaking the April 18 low SPX came down to it's 150-day M/A. 
Nasdaq came down to it's 150-day M/A as well.
I continue to look for a shortable rally because of the short-term timing component, which I posted in this morning's pre-open.  This keeps a bullish cast on the stock market for 4 more sessions, when it declines below +11.  I'm still holding 3% SDS and the short mutual funds, but I'm looking for a pile-on short opportunity to emerge in the next several days.  At the least this component says that the odds for a waterfall decline are low for the next several days.

1 comment:

  1. Hi Steve,

    Take care of your wife. And thank you for all your posts.