‘TwasThe Night Before Greenspan

‘Twas
the night before Fed speak, when all through the land,

Consumers were busy charging their Visas, newly confident again.

Although their savings accounts are dry and the cupboards are bare,

They keep buying in hopes the FOMC makes money out of thin air.

The perma-bulls and naÃ¯ve
were nestled all snug in their beds,

While visions of a re-inflated bubble danced in their heads.

As unemployment climbs and the NAPM index continues to decline,

We aren’t to worry because McTeer and Greenspan are the new economy masterminds.

Where is the soft landing Pisani has been discussing on
“trader chatter”?

And when will the “lack of visibility” lie begin to matter?

But fear not, Bubbleonians, for the Fed will continue to slash,

Or else, the new economy’s soft landing may end in a crash.

Can a secular bear market be upon us at last?

It certainly depends on who you should ask.

When, what to my wondering eyes should appear,

But millions of people believing the worst is behind us, and smiling ear to ear.

But the bubble was too severe for the economy to recover
so fully, so quick,

Yet, Greenie and friends tomorrow bring gifts once again much like St. Nick.

With four 50 bps rate cuts and a fifth looming ahead,

It appears rather than his gradualism, Greenie is throwing caution to the wind
instead.

As he walks across the street tomorrow, the great stock market manipulator

Will have Mark, Joe and Faber obsessing about their briefcase indicator.

With the economy possibly in recession and the future anything but clear,

Our stock market and Federal Reserve has instead, taken upon a carnival
atmosphere.

As today’s stock market has once again captured the
imaginations of all, like in 1929.

Tomorrow, I shall be positioned safely on the sidelines.

If you want buy setups to go long, and shorts to attack,

You might have better luck spinning the roulette wheel and betting red or black.

I will post a commentary tomorrow evening to address trade possibilities once
the uncertainty of the FOMC meeting is behind us.

Let’s keep track of all the winners, too, gang, and not just focus on the ones
that go
against us. Hope all of you profited from these plays.

Goran