We had so many other things to say today but as we woke up, futures are flying. The first thing we thought was another announcement of printing of money. And away we go. Japan, who we believe has been printing and easy for about 700 years…announces an additional monster amount of printing. This was no accident. This was a coordinated effort to get the gravy train continuing as our Fed could not go back on their word of stopping QE…so someone else picked up the slack. Money printing is a worldwide, coordinated effort. They refuse to let the markets trade on their own. The corporation called “Government Run Markets” just expanded. We will give this company the stock symbol GRM.
Major indices are amazingly gapping up to or just above old highs. We have now seen the mother of all V-Shaped moves. We have told you that no matter what the markets look like, if they surprise and expand the money printing, all bets on the downside would be off.
Now that everyone is frothed up, just a last little word to the wise. The recent nauseating drop ended with a big gap to the downside and a gargantuan reversal to the upside.
Weekend report is up next.