Friday, July 1st, 2016

Kill the Golden Goose right here!

House passed the modified Financial Reform Bill last evening 237-192 in a huge landslide. What do you know, better than last time, much better..

Now comes the funny part in the Senate where the Wall Street lobbyist and Republicans siding with them are trying to sway Scott Brown to keep throwing monkey wrenches in a filibuster. Instead of being signed into Law by July 4th as planned the Bill has to wait till Mid July getting a nomination for late Sen Byrd. That prolongs the misery on both sides. No one will go home feeling good over the long weekend. But that is life in America. Eat your barbecue and sulk down with a beer and ponder your fate next week.

Meanwhile SPX has been visiting its previous 3 lows and has undercut it at 1010 level today and than reversed and still struggling. Wall Street is trying to save the Golden Goose ? What do you know from these coward faces ! Hey the Job report on Friday is not gonna be upto your high expectations you know that, why not Kill the Golden Goose right here? I dare you !

Will they do it? Kill the Golden Goose this time? I doubt it. They are much smarter than all of us combined retail traders. These are cunning cowards greedy from the inside. They will never put themselves out of a money machine raking in millions. They will scare you, they will use fear and greedy to part you from your retirement money but Vinny the Trader will never slay the Goose.

I got so carried away forgot to look at the charts. So lo and behold SPX is now forming a long shadow on the candle called a Hanging man. Usually that is a bottom, But the downtrend has not ended, its just another lower low. This drama will go on till the Financial Bill keeps hitting the Senate Floor with people like Scott Brown throwing monkey wrenches in the works and pulling the Temple down.

These are the same people who keep pulling the temple down on all our heads, blocking everything in the Senate and than keep “whining” the economy is not improving? How can it improve? What have you done for your country ?

On the other hand economic reports are also coming out tepid and weak, and Fridays Job report would a thing to watch.

I dare Wall street to Kill the Golden Goose right here.. kill it and go home… but I know I will be proven wrong.

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