Monday, March 2, 2009

Wall Street: The Stupidest People on Earth

Yes, there was one of those exaggerated computer casino gaming moves on Wall Street today, setting up a probable bounce upward in the near future. You can guage how sick the stock market is by how big that bounce is. Of course, the economic news is so very bad, and President Obama' policies so very destructive (as may finally be penetrating) that the "tecnical" bounce may not occur. But there remains no rational reason for thiese wild gyrations. Oh, there was reason for the stock market to go down today, but it is only the Stupidest People on Earth who would continue selling stocks today after the Dow was already down 200.

I told you previsouly, in one of my prescient entries on the stock market and the Stupidest People on Earth on Wall Street, that the previous "support" level of the S & P 500 was 750. We have gone right through that level.

However, as I told you, there is ALWAYS a new "support" level. Dont you just love--sarcasm--technical analysis. The new support level is 700. That is exactly where the stock market closed today (diving right to that level, showing the Stupidest Peopole on Earth in operation). That does not tell you whether the stock market will go right through the 700 level, but the computer gamers are betting on a bounce from here. Don't bet the house on it, but we are set up for an upward bounce, on any excuse. It is built into the computers. The next "support" level, by the way, is probably 650. That is the number Jim Cramer ("Church of What is Happening Now") has been saying is the "bottom" support level. That may mean we are heading for S and P 500 at 500. Ultimately, I am afraid we are, as we are in the process of destroyuing the country. However, all of this government money is bound to have at least an illusion of an effect. So I am hoping for a big bounce sometime this year, at which time I will get out of the stock market. That bounce may not come, or I amy not get the full chance to get out.

Again, it will be much better, and the ONLY sign of a "healthy" stock market, for the Dow to go up 50 points at a time--no more than 100 points a day. If the Dow were to go up 300 tomorrow, that would not be a sign of health It will be a sign of SICKNESS--the Stupidest People on Earth in action again.

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