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"Tricks and treachery are the practice of fools, that don't have brains enough to be honest."
Benjamin Franklin
This is about as far as it goes before breaking out, and the volumes had better pick up because they are too thin to sustain a new bull leg just yet.
The G20 are meeting over the weekend and expectations for a comprehensive solution to the European debt crisis are high.
More of the Financials report their earnings next week. They could be disappointing.
I see a higher risk here for a surprise to the downside, but absent that the liquidity can take it higher first.
I will be surprised if the G20 meets expectations for a general resolution to the debt crisis.
Capping the metals all day, but they could not make it stick.
While the SP and broad indices slumped today on JPM's weak numbers, which pulled down the financials, the NDX never really gave it up all day, no doubt in anticipation of Google's numbers which were released after the bell.
Who needs money when you have Google Plus and ad clicks?
Jamie Dimon speaks to Blythe and her traders to rally the troops after posting lackluster third quarter results, ex-accounting gimmicks.
Blythe: Don't worry, no one is getting screwed.
Jamie: Whatever. We own this town. Let's party!
(Our little girl has been going around singing this all week.
She makes me perform a duet of the refrain. I am the 'la la la' guy.
And she does a dramatic delivery of 'oh well' and 'whatever.'
She makes up most of the lyrics besides that.
It's the little things that make life worth living.)
The next time someone asks that question, send them a link to this.
The Banks must be restrained, and the financial system reformed, with balance restored between Corporations and the people, before there can be any sustained recovery.
