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Geithner wrapped up his China trip as he gave his best effort to placate our biggest financiers. He told the Chinese that his first priority is to reduce the deficit and “live within our means.” Hard to do that when this is happening.
JPM, AXP and MS are issuing a ton of stock and dilution vs. extinction is still the order of the day. Smoke em’ if you got em’ I say, and feed the ducks if they are quacking.
Commodities both soft and hard are on fire, but are due for breather so try not to chase.
The market right now is trading strictly on “technicals” in my opinion. Commodities are roaring but there is no inflation, financials are up over 100% but they are still broken and interest rates are soaring which has a good shot of muting any recovery.
Logic though, has nothing to do with making money. Good luck today.