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Thursday, June 11, 2009

I am a boring blogger

I am tired of blogging the same stuff, I want the market to choose a direction. If I am wrong, make me bleed, but lets move on already.

The market is trading sideways, as yesterday's post showed. The interest rates rose more today, basically now at levels before the market collapse in 8/2008.

So lets see interest rates go parabolic, have the CNBC talking heads say that high interest rates are proof of a recovery, and have the market go up to DOW 10,000. If this happens, I'll be damaged, but I'll probably go ballistic and bet the farm for a market short.

I expect the market to break UPWARDS, then make a pullback at the end of the day or the next day. That expectation may have been met Wednesday, but if I expect history to repeat itself, I need to have a day like I want to puke, and drive my car into tree. That is usually the top, and near impossible for me to double down as I see the market going to the sky.

Once this breaks, and it will after the games are done, it won't be pretty.
As a side bar, WHO is scheduled to make an announcement, I expect they declare the swine flu a world wide pandemic, but not deadly (yet).

Lets look at the US 10 year treasury interest rate chart, TNX.
From WebSurfinMurf's Financial Blog

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