Excuses change nothing but make everyone feel better.
-- Mason Cooley

Chartz And Table Zup @ www.joefacer.com.

Goin Down.....
http://www.youtube.com/watch?v=BHXKlNP4 ... re=related


Lookie Here....


Check out this 3 year weekly chart on the S&P. We established a downtrend in late '07 and then went into a precipitous cascade down starting in October '08. The freefall quickly slowed into a sickening dive that ended in March '09. That was a huge oversold panic drop that led to markets and equities priced for the end of time by the end of '09.
You don't need inventory or employees going into the end of time so businesses got really lean really sudden and the reduced revenues from people who still had jobs, savings, or credit, went straight to the bottom line. There were profits to report. The Fed and the Treasury cranked up the presses and flooded the world with cash at 0%. Nobody wanted to fund businesses or buy real estate so the money went into liquid (financial and commodity) paper assets. Everything got a bid. The markets went up on low volume and in an atmosphere of fear. As markets went up, participants were dragged in kicking and screaming, one at a time, moving the markets up more. Wash,rinse, repeat... It is still ongoing...

The weekly trend is up and continues up. There have been consolidations and corrections, but if you weren't long, you were wrong. I am now pretty much long stocks pretty much late in the year and pretty late in the move...



Check out this 8 month daily chart. The trend is still up, but we have had a coupla touches of the uptrend line with relaunches from there. We've also had a major reset at the end of October. The technicals still look good and Monday we gapped up hard in the AM. The economy hasn't mattered since March. Someday it will matter again. The longer it doesn't, the sooner it will. The reset was a first crack in the wall. The almost daily confirmation that the Fed and Treasury have the economy on a high pressure force fed diet of free cash and is aware of the risk of slowing the flows for even a moment is keeping what launched the economy off the bottom in place. It is The Infinite Intervention vs The Great Unwind at the start of an election year. The risks are huge. I reduced my exposure to stocks Friday and I may do so again even with the markets up.

When it's late and the party is really really wild, ya gotta edge toward the door whether you can hear the sirens yet or not....


Meanwhile, Back At The Ranch...









http://www.bloomberg.com/apps/news?pid= ... sHAD0w1egE
http://www.bloomberg.com/apps/news?pid= ... &pos=4
http://www.istockanalyst.com/article/vi ... id/3633323
http://www.ritholtz.com/blog/2009/11/ho ... of-the-us/

Why I've been in too much cash/bonds and not not enough stock...
http://cohort11.americanobserver.net/la ... final.html

http://www2.debka.com/headline.php?hid=6384
http://www.msnbc.msn.com/id/34067419/ns ... ssweekcom/
http://www.bloombergnews.com/apps/news? ... &pos=7
http://www.dailymail.co.uk/sciencetech/ ... world.html
http://www.bloomberg.com/apps/news?pid= ... tisP2sqI2I
http://www.msnbc.msn.com/id/34103722/ns ... ork_times/
http://www.bloomberg.com/apps/news?pid= ... &pos=1
http://www.ritholtz.com/blog/2009/11/bi ... -failures/


These Links Help You To Understand What I See....
http://www.aspousa.org/index.php/2009/1 ... eally-bad/
http://peakwatch.typepad.com/peak_watch ... round.html
http://www.ritholtz.com/blog/2009/11/do ... s-soaring/
http://mpettis.com/2009/11/lecturing-ea ... -on-trade/

http://www.ritholtz.com/blog/2009/11/ex ... ap-condos/
http://www.ritholtz.com/blog/2009/11/th ... americans/


http://www.ritholtz.com/blog/2009/11/fe ... e-wealthy/
http://www.ritholtz.com/blog/2009/11/im ... ll-hidden/

http://www.ritholtz.com/blog/2009/11/th ... t-veteran/
http://www.marketwatch.com/story/15-sig ... 2009-11-24




Stay Tooned....