We Just Have To Deal With It For Now

. But

Denninger asks the obvious in Housing Numbers – Are They Being Cooked?  “Here’s the problem, obviously – Case-Schiller and other “home statistics” numbers related to price paid are all computed off these numbers provided by the local Realty boards (via NAR.)  If the data in the MLS is bogus then so is the so-called “median sales price” and so are Case-Schiller’s numbers!” ZH had Are Existing Home Prices Overrepresented By Up To 40%? yesterday which should be reviewed as well. 

Here’s a great one from ZH that just hit – TrimTabs Reports Percentage Of Hedge Funds Expecting To Raise Leverage In September Surges “With just one month left in the quarter, most hedge funds continue to underperform the market, not to mention that the vast majority continues to be under their high water mark (most notably Citadel). And with fickle LPs, unbound by lock ups courtesy of the 2008 crash, knowing all too well they can now move their money with the facility of a HFT frontrunner churning AMZN one thousand times a second, threatening redemptions unless something changes in the last month of the quarter, hedge funds are, for lack of a better word, panicking.” So, which side of the trade do they lean to?

I must apologize to my readers for a recent inability to accurately forecast the markets. I’ve been in a bit of a slump, but it is not my fault. I can’t just say, “Ben says buy, so go get ‘em.” I fancy myself as pretty darn good with the track record to prove it, but this bullshit is nothing but manipulated, VOLUMELESS, range bound crap that has NO underlying fundamentals and any technical significance is being wiped away at this time. The friggin markets are controlled and untradeable. If you got it right, more power to ya. To wind up on the right side of the trade these days is more like winning at roulette. Red or Black today? I’ll get it back. But right now, calling a long against all the flawed data (to be revised) based on lies and “promises” from the Fed is against my religious and ethical standards.

Thanks for your continued support, donations and the votes on stockcharts. We’ll win this battle. It may be a battle we don’t want to face, but for the safety and promise of our future it will be some pain we have to take.