“Another crisis, another June,
Another REPO, this afternoon,
Another reason, it is the season,
Da Boyz make whoopee.”

The Fed tossed in another $31 billion to the banksters today and they know just where to route it–right to the trading desks. So, when you start slicing and dicing the next earnings reports from Da Boyz, make sure you check out their trading desk profits as compared to any other source of revenue or profits if any.

Speaking of manipulation, as stated here last week, the Fed would jawbone the dollar higher if they could. If that failed, they’d threaten to intervene. Right on cue, Treasury Secretary Paulson hinted [that’s all it takes] at intervention by saying he wouldn’t take that action off the table. So, I’d say Uncle Buck has found the “Paulson/Bernanke Put”.

Markets were still negative sporting higher volume and poor breadth. This should cause conditions to become more oversold as these negatives accumulate.

Yes, it was another messy day. I’d expect more like this but stocks are getting somewhat oversold as the negative breadth data builds.

You know we could have a little fun or even a contest. With all due respects to lyricist Gus Kahn, you could try your hand at editing this old standard to suit current financial market conditions and your own attitudes. Go ahead folks, knock yourself out!

MAKING WHOOPEE

Another bride Another June
Another sunny honey moon
another season, another reason
for makin’ whoopee

Alot of shoes alot of rice
the groom is nervous he answers twice
its so killin that he’s so willin’
To make whoopee.

Picture a little love nest
down where the roses cling
Picture the same sweet love nest
Think what a year can bring.

He’s washing dishes and baby clothes
He’s so ambitious he even sows
but don’t forget folks that’s what you get folks
for makin whoopee.

Another bride Another June
Another sunny, a sunny honey moon
another reason, is that season
for makin’ whoopee.

A mass of shoes, a gang of rice
the groom is nervous that he answers twice
its so Killin this cat’s so willin’
To make whoopee.

Now he’s washing dishes with those baby clothes
He’s so ambitious that he even sows
but don’t forget folks that’s what you’ll get folks
for makin’ whoopee.

But don’t forget folks that’s what you’ll get folks
for makin’ whoopee.

Disclaimer: The ETF Digest maintains positions in: TLT, TBT but not much in the way of “whoopee”.

Last 5 posts by David Fry

• MARKET COMMENT October 22, 2009 DRIVE-THRU SOUP KITCHEN 2009 So, what the hell was yesterday about anyway? - October 22nd, 2009
• MARKET COMMENT October 20, 2009 TAKING A BREAK It was a pretty strange day. - October 20th, 2009
• MARKET COMMENT October 13, 2009 EARNINGS WORRY WARTS I just have a spooky feeling but then I always do. - October 13th, 2009
• MARKET COMMENT October 8, 2009 GETTING SOME ALTITUDE SICKNESS YET? - October 8th, 2009
• MARKET COMMENT October 2, 2009 REALITY BITES BULLS Economic reality is meeting bullish enthusiasm and the results are disappointing and upsetting. - October 2nd, 2009