Bias is Very Unclear

Yesterday led to more flat lining. An easy trade was made on buying the Sept500C when it hit even near lows of 8.30 in early trading and selling to 10.25 profits by 1.30 p.m.
Again note the emphasis that we are beginning to avoid the 3p.m. crazies, as the whipsaw is often not chartable.

This leaves OEX with another profit for the week and we continue to hold our put for hedge, and with time to perhaps surprise us.

Bias is very unclear; the bell curve loses value as the highs/lows become extreme.

We'll list a call for a new trade, and we'll note: higher risk, try to day trade.

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The market seriously over reacted (FEAR) to the FED's last statement and has kept us in a whirl of emotion:

http://www.huffingtonpost.com/2010/08/17/feds-move-to-buy-governme_n_685019.html

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As July regional and state unemployment claims are released, and the market is an option expiry day, and a potential turning date. Ideally we will close out all open positions by end of day.

Many believe that Bernanke is doing this: Reinvesting in treasuries by paying down mortgage securities that have been paid down, which is about 20 billion a month. We are not injecting new money into the markets, but simply stalling the ebb in funds.
Floyd believes, and has written since the first Paulson/Bush fake write-down, that once we figure the true situation (Geitner did) that it could have become necessary to have a second stimulus.

This was what Obama and team first wanted to do, create an even larger stimulus, and they moved from it.
I believe that this debt is irrelevant debt that is NOT an issue, but can save an economic issue (a false bubble) that occurred world wide, led by our excesses, and that only by stimulus (without the public fear of how to pay back; I wonder why NO ONE worried about this while Bush was playing toy soldiers in Iraq?) will be stop this hemorrhaging that will continue otherwise worldwide.

For once we must take the lead, and not listen the Roveians that lead false information to us, or to the Rush Limbaughs that predict in ten years that 8/20, the fat man's birthday, will become a national holiday.

I love this guy. He's built a complete base on FEAR and mongering, and is evil, as is Glen Best, selling lies to make big money.