Ah Denail just aint a river in Egypt

Ah the market cratered at 10am when the Chicago PMI showed the biggest drop in years and of course by the end of the day the markets were at new highs due to oil was down a buck. Denail, you have to love it. Moving the markets up with gas at 3bucks, is like buying QCOM at 400 during the tech bubble height. Wallstreet with their infinite stupidity, really thinks all is great and we just keep the real estate bubble going and things go back to normal with all that has hit the fan. I think reality hits come September so it should be a fun month. Of course Greenfraud keeps his "inflation is in control" speal as we pay record prices for commodities. And of course there is no inflation when housing prices are out of control. After all you just look at the monthly payment. But if that was the case, then we should look at the monthly credit card payment rather than the price of items purchased.
I was looking at pricing in the Asheville, NY area and almost feel out of my chair. I wonder when people wake up to the fraud that Greenspan and his greedy puppet masters are pulling over this country's eyes. When they do wake up, it is going to be a big case of ugly. I guess people forget pain quickly.

As far as trading, just doing the old standbye GOOG for scalps and did the material building stocks that have soared. BMHC and IPII are parabolic straight up. I understand the logic to a degree but remember if there are shortages of materials, how will sales go up? You can't profit from what you can't sell. Also, DNA broke a new high which is interesting. But, all in all, another August day where you really can't make much out of anything. I will wait till September when the numbers start rolling in. That should be fun given we are still up nicely in the market and there has been no correction into higher prices and the oil move. One thing on oil, we might have seen the shorterm top being we had the worse news you could have and it hasn't gone much higher than it was before the hurricane. Kind of a sell the news. But what I think is really going on is demand might finally start to slack due to the economic slowdown. People are actually driving less due to prices. Thus, it might play out that oil drops, market gets giddy, then reality of why oil has really dropped and then the earnings warnings. Should be interesting. Well I am away for a couple days in the mountains and getting away from the chop. That is of course if I can find the gas to get there.