kaltbaum premarket

Futures up huge today but not because job’s report. Futures were up big beforehand. The news is simple. Papers across Europe giving cover for the stupidity yesterday stating that printing of hundreds of billions of euros will start soon. So all the emailers who sent me emails yesterday about having to be short the market will stop sending those emails…at least for a day…but of course, market will just gap down on Monday.

 

 

The bottom line is the euro is soaring…which lifts all the areas that have been lagging that are such a big part of the indices…which is oils and commodities, financials and semis. I just need to repeat, do not get too bullish on the big up days and do not get too bearish on the big down days. Markets are trendless and friendless and they are out to screw you.

 

 

The fake employment number was better than expected…blah blah blah but rate was up because they know they cannot continue to make up numbers of people getting out of work force. Somehow, they have found millions of people who have left the workforce but when I email the labor dept for the list of names, they dont answer. The number is fake, made up and stupid. It is just a sampling. It is amazing markets hang on these numbers. Futures have moved up nominally from the announcement…but again…up over 1%.

 

And if you want to know why to pay zero attention to political polls, PEW (pun intended) has a poll out with Obama leading by 10 points…but PEW doesn’t mention that the sampling had Democrats 19% more in the poll than Republicans. In other words, a scam. Republicans pull the same crap also.

 

I love the set-ups in CRUS,EXPE,WFM,EXIQ,AMZN,SWI,EBAY,AAPL…but markets suck. Just remember, the M in CANSLIM is the market. If the market does not have direction, it is a tougher game. I am one that does not mind bulls and actually love bears because while everyone is losing money, this service shorts stocks. HD will open up bouncing off the 50 day and will need to hold it.

 

If we start to get breakouts, I will alert you. Most good names are in range but have the potential to move out.