3 top-of mind thoughts

1.  The Obama administration has declared war on General Electric, Jim Cramer, Rick Santelli, Rush Limbaugh, Las Vegas and everyone who produces enough to earn an income or work towards a high income in their future.  Not smart and now the 20% of the voting public that was fooled by oration and NLP is starting to understand the socialist desires of the man they put in charge along with his rubber-stamp congress.

2.  This market is setup for a massive rally.  I’m long in a big way, especially names with defensible market positions in non-financial sectors.  Everyone is leaning lower in a big way.  Everyone is nervous and selling into every downtick.  They are manipulating GE lower with hopes of tanking the entire market, but it’s not working and once you see GE get some bids….watch out.  We will blaze higher fueled in part by the covering of our bear friends.

3.  There are no magic numbers in the stock market.  CNBC can blather on all day about SP 700 being “critical”, but then 2 days after “breaking” it, CAT is up 4 points and Erin has her cheerleader uniform back on again.  Give us a break with the magic numbers.  This is an irrational market with few rational players.  Reading into 10,000 year trendlines is going to do nothing for you unless you enter stocks over the course of two years and check your quotes once a quarter.