Doom News

Next week is the much heralded "quarter end" where thousands of fund manager's jobs are on the line.  Any and all efforts were made to keep the tape in check this week in order to prepare for the usual marking up ceremonies.  Greek debt implosions, N. Korean torpedoes, and horrid housing data failed to send the tape lower.

NY Composite remains pinned at the highs.  Will the Robots be able to keep it afloat next week?

Or do stocks get clotheslined as everyone seeks to "lock in profits" before the rest of the herd sells?

No doubt, the markets had a lot to digest this week.

However, most of the fabled consumer discretionary stocks were unfazed by all the news, including a Euro crash, spiking interest rates, a slew of mixed economic data.

Pretty much onward and upward to new 52-week highs:

It seems like upon the news of any convulsion, potential default, market destabilization, currency chaos, etc. consumer stocks actually go up even faster.

And on the other hand, the more typical large cap staid names like XOM with the strongest balance sheet in the world are sold off with the utmost urgency.  Same thing with anything associated with "hard assets".

And the faster the U.S. government prints, the higher the U.S. dollar goes, and the bigger the gains in the trillion dollar Chinese FX portfolio, which in turn incites them to buy even more dollar-based Treasuries.

Pretty much a self-perpetuating liquidity machine on all fronts to drive markets higher and higher.

No particular squeezes or shanks to report today, other than the peculiar strength in FSLR, another low floater with over 20% sold short.

I expect a bunch of Chop Houses will be upgrading it next week to a squeeze going.

Funny how I heard on Bloomberg Radio last night how a hedge fund manager was describing how fund managers are "digging through the garbage cans" to find junk stocks coming off 52-week lows....

Yep, they were at it again today gunning the mortgage insurers:

Radian up 7%

MGIC up 12%

And today they found GLG Partners...

Just another day in the casino.

Nobody knows what is going to happen next.

Just gotta think which move Goldman Sachs (aka Wall St. PigMen) would do to make the fastest amount of money in the shortest period of time in order to inflict the maximum amount of pain possible on its biggest clients.

Just follow the money.....