Drinking Kool Aid, chewing red pills so I forget about fundamentals.... bullish until 4 PM or S&P 870 breaks as support. Still thinking this seems like a set up to trap longs but will humor it.
This is where HAL9000 comes in and does his... err, its dirty work....let's see what the super computers accomplishes in next 2 hours.
Kool Aid man is getting tired, I keep pulling him out of the shoebox. Remember, our national contract - we give billions upon trillions to the right organizations/people - in return your Etrade account is allowed to go up 18%. We all win here - let's do this Kool Aid man.
EDIT 2:20 PM - speaking of Etrade (ETFC) it is up nearly 25% as every Tom, Dick, and Harry sub $5 stock is now being run the moon. I sold another batch of Regions Financial (RF) as it hits $7.50 - I was hoping for that price within 2 weeks, not 24 hours. That just leaves us with a less than 1% position going into earnings next week. Again, moves that once took months to take out now happen in days. I am selling some Lennar (LEN) exposure as well. Anything jumping like mad I am selling some off in pieces. I replaced the long exposure with ETFs that I can get out very quickly once the euphoria reverses. While I am drinking Kool Aid, I am standing by the door listening for the siren of the cops to close down this party. I did notice some shorts slumped over the toilet in the bathroom ...
EDIT 2:30 PM - Wall Street strategists estimate that S&P 500 companies will earn a total of $47.45 a share this year, according to the average projection of 11 forecasters surveyed by Bloomberg News.
So we're approaching 19x FORWARD earnings on the S&P 500 . That's not trailing; that's future earnings. That's what paper printing a tsunami of dollars will do - all assets of relatively fixed nature (supply) will be driven up. Boo yah - 19x [forward] earnings in a bear market.
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