Market Watch

Market is forming a bearish rising wedge and nearing heavy resistance.....I wouldn't initiate any new long positions at this time, however it is too risky to start building short positions, this is a place for cash.....

Morning Briefing

Here is a must see video and a few good reads......

Ben Bernake: World's most dangerous man (MISH)

Bernake Bashing (BP)

AP: Consumer Straining -- Another Green Shoot? (Fund My Mutual Fund)

The Welfare State and the Promise of Protection (Mises Institute)

Keep Gold in your mind

Lunchtime reading

The King Report (BP) Deceit and duplicity are encouraged if not demanded. Earnings are crafted; balance sheets cannot be trusted; government economic data is illegitimate.

What the Stress Tests Didn't Predict (NYT)

Bernie Madoff dying, making platonic friends, and smoking pot? (Dealbreaker)

Tim Knight's Big Picture View (Slope)

Cumulative Deficit Estimate for Next Decade Increased $2 Trillion....Since May (Fund My Mutual Fund) This is a must read by any self-respecting American.

Stock worth watching

Here we have a chart of FAST showing a VERY large basing pattern...........could be poised for a pretty large move higher, keep watch

Dry Shipping Index continues to fall

The BDI continues to diverge from the stock market.......this is fundamentally bad for the "recovery"