By John Galt
September 22, 2011 – 21:30 ET
Ah yes, who can forget that Jib-Jab video I created back in 2009 with the dancing Bernanke:
Well, old Ben just danced America and the West into a major recession to validate his theories and seize more power for the banksters this week.
The move in the markets today was brutal, sharp, but not terminal. The headlines from some of the mainstream financial media reflect that fact:
Bloomberg 9/22:
Stocks Fall But Investor Panic Could Soon Abate
CNBC 9/22:
Doug Kass: Market Won’t Make Another Swish Down
US Is ‘Not in a Recession’: Larry Kantor
And of course the numerous appearances by the “Dow 20,000″ types still selling their wares like late night used car salesmen on the various Bubblevision networks.
The truth is that we should see a rally attempt to create a short squeeze Friday morning. If any events occur overnight to thwart that, then it could open ugly, rally, then close uglier. If it opens nicely (100+ Dow points) look for selling into the rally with a moderately lower close. However, if the rally fades fast by 11 a.m., volume spikes and then selling accelerates all day long with a break below 1094 on the S&P 500 cash, then all bets are off for Monday 9/26 and BEAR RAID shelters will be in order.
In the interim, remember the charts I posted in the previous thread about the market’s technical breakdown, gold’s collapse and probable 25-30% correction well under way, and the impotence of our financial and political elites.
Needless to say life will not be dull in the U.S. of A. for the remainder of this year…..
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