"[The Fed] is very smart, but [it] doesn't run the markets. In the end, the markets will run [the Fed]. The markets are bigger than anyman or any group of men. The markets can even break a president..." - Richard Russell
The lack of government regulation has morphed Wall Street into a place that regularly trades AGAINST our economy. It is their jobs vs. their bonuses on every trade.
So in no way is Wall Street, selling "stocks," trying to protect your interests. If you believe otherwise, from a tea party gathering on "free enterprise," then I've got a AAA rated subprime mortgage based CDO to sell you.
Consumers are spending again, delivering a strong boost to first-quarter corporate sales and profits, and prodding some companies to rehire laid-off workers and others to start raising prices again.
Calls were profitable for many traders and are an example of "how to trade." We repeat below our instructions from yesterday. "Buy below prior day close." Do not buy if the market moves below a certain point. We made a quick $1.00 per contract as the market theoretically topped at 11,298 by 1 p.m.
"Floyd, this was great. I bought 100 on the 550C at opening and got 8.50, and sold them all in block at 9.50 two hours later. I made 10k. I've hit it on so many of your signals recently; you're amazing"-JEK, South Carolina
"Floyd, I subscribe to Blue Chip and to OEX, and at times your comments drive me crazy. I disagree, and you blast me personally on the false facts I have when I write in, and I have become a true believer in your cynicism. I started 9 months ago, and have made 85,000 off your recommendations. I'm sold"-NBT, Kansas City
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