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It is well enough that people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning. Henry Ford


Those who surrender freedom for security will not have, nor do they deserve, either one. Benjamin Franklin
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The idea that you know what is true is dangerous, for it keeps you imprisoned in the mind. It is when you do not know, that you are free to investigate. ~ Nisargadatta Maharaj

Tuesday 21 September 2010

Pushing the limits

The bear squeeze continues...........Nasdaq has now recorded 9 consecutive up-days...volume is light,the economic background continues to deteriorate but the Fed continues to make vast amounts of liquidity available via POMO,(as described on Apartofny's blog      http://www.apartofny.com/2010/09/pomo-auctions/)         Very unusual activity on the FTSE,with a big engulfing hammer candle on Friday completely reversed mainly on the back of US market strength.I have underestimated the strength of these markets but continue to believe these rallies are unsustainable given the economic background.

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