America On The Brink
Monday, 28 May 2012
We’re still up in the air as to what is going to pass in Europe but perhaps this week we will see.
Markets are looking very bearish right now and the only thing that can save them would be another QE announcement which I have an eery feeling will come.
Remember last year on a Sunday we were off huge in the futures as everything technical was pointing to lower prices and we all awoke to a joint QE announcement of some $600 billion and the markets rallied and literally robbed those with short positions.
That was really unfair and nothing short of manipulation and I could see it coming once again in the near future in order to stem a protracted move lower.
I wish the governments would step out of the way and let things play out. They won’t be able to prop up markets forever and when they lose control then the correction will be much more violent and worse.
Later on I talk a bit about just what is coming down the pipe for the US and how it could well the the beginning of the end.
Being a long memorial day weekend we have no market action in the US Monday. On that note let’s make this a relatively short and quick weekend letter and then let the good times roll on this holiday weekend!