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Stick Save - v. 1,250

By Shanky on 08/31/2010 – 2:48 pm PDTLeave a Comment

. I am of the opinion that there will have to be consolidation and it will happen at much lower prices (cause the CEO’s know how bad it is out there). What does consolidation and M&A activity lead to? Efficiencies, thus reducing redundant jobs is a comin with it. Washington’s Blog has a great take on M&A and QEII that you need to look at in Quantitative Easing Won’t Help the Economy, But Will Just Create Another Wave of Mergers and Acquisitions. “What’s needed has been obvious to independent observers for years: Break up the big banks, prosecute the criminals whose fraud caused the financial crisis, and restore the rule of law and transparency. Until those basic steps are taken, nothing else will work to fix our broken economy.”

That is enough for now. As for the market calls, it is getting increasingly difficult to read the charts when you are range bound in a rigged market. I may as well just say support at 1040 and resistance near 70. Eventually the support levels will crack. They are obviously defending the psychological 10k level on the DOW, but how long can they keep this charade up? I believe a crack of that level will be the last straw and you’ll begin to see even more MF outflows from the masses. With 16 weeks in the books of cash moving out of the markets, something has to give sooner than later.

GL out there and thanks for your support.

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Tags: art cashin, last hurrah, volume surges

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