The fact that they essentially pull these numbers out of black box models that resemble reality in a parallel universe is apparently not enough...they have to leak the numbers they are going to manufacture. The good news is the fed now has the leeway to do what ever they want with quantitative easing. They have the cover to cancel QE2 or end it under the guise that its was very successful. The thing is you need the perfect jobs numbers and to eliminate 35% of people who want to work, are eligible to work but somehow don't fit in the governments pool of the "US Workforce" and then you get an 8.8% unemployment rate.
In any case, this is not enough for the leaders of the titans of the Banking system, Government and Wall Street, the numbers have to be leaked for profit not just cover in addition to being fabricated. The irony is that they have given us a tremendous gift - the ability to sell at rather advantageous prices - regardless of the flimsy foundations for those prices.
I will post additional charts and an update on the swing positions later today...as I indicated earlier the common view is that the pullback was a wave 4 and we are off to new highs in a wave 5 type pattern...that is not what I am looking to be the case as I posted several days ago on the subject. My systems are certainly not thinking so...but the level delusion in these market is simply outstanding. Ren and Stimpy are even surprised!
David Einhorn Gets A Divorce, Shorts Sovereigns, Is Bullish On Gold - First it was Ken Griffin, then Bill Ackman, now it's David Einhorn's turn. Perhaps eager for a complete "change of scenery" after years of moribund retu...
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