Give Me Liberty, Or Give Me Death!

Mr. Bernanke, what have you done to my market?

I am having a Patrick Henry moment. I am obviously being facetious. I am alive and well, but I just can not trade based on what the man with a gray beard will or will not say at Jackson Hole Symposium. This has become an obsession, a drug, a sickness, and needless to say, a fatal market moment if he (Bernanke) does not deliver.

Aside from promised rain of liquidity "fairly soon, unless economy improves", do you think this market has any more reason to be at this level? FOMC minutes gave a hope and a single Fed member took it away. And you want to trade this?

Market internals are awful, and divergences are getting wider every day. Volume, breadth, momentum, correlations, fundamentals - all are saying this market is ripe for an enormous fall. Who cares? Just wait for FOMC minutes and juice the algo rally until it dies. It did not take long. Hope is not a strategy, it runs out and leaves a void unable to be filled by printing more money. I am still yet to see the magic of QE1, 2, Twist and LTROs. Loan demand is not growing, companies are not investing, consumers are not spending, and fiscal mess is getting worse.

There will be no charts today, just a rant. I am Fed Up! I am not going to take this any more. I am pushing the "sell" button. I demand freedom from central bank's manipulation of business cycle and free markets. I am a trader - I am allowed to be right and wrong. But I am not going to be controlled by those who sell false hope. Do you want to buy a speech by the man with a gray beard? Sold to you!!