Friday, May 7, 2010

5/7/2010 Katy Please Stop

Watching Katie Curric report on the stock market is like getting my teeth pulled..

Listen Katy, the US Treasury redeemed nearly $600 billion in T-Bills in the month of April..However in these FIRST FOUR BUSINESS DAYS OF MAY ALONE they redeemed $144 billion in T-Bills!!!! Annualize this number Katy!! We are printing money hand over fist to support this PONZI SCHEME of a nation.. Now Katy let me ask you, what better way to raise demand for Treasuries than to stage an equity selloff??! BINGO! Spread rumors of greek contagion, scare people out of stocks and into treasuries. Its ok though we can't expect the average viewer to notice that the 10 Year was trading in the lower 3% range today. Just tell them someone hit "Billion" button in stead of the "Million". They will believe that..

Notice that last post calls a short about 95 S7P points ago. If I was a position trader with a 500k balance in my account I would be taking the rest of the year off on that call

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