While the politicians, clueless about real economics (Austrian School of Economics) are trying to devise a plan to assist Wall Street.  Key to note, they are trying to help the very people who screwed up.  Rather than keep people in homes, our wonderful politicians (both Democrats and Republicans) would like to help Wall Street and manipulate our “free” market.  Stocks were able to fight off the mess in DC and were able to finish well off their lows.  Volume was mixed, higher on the NASDAQ but lower on the NYSE.  Regardless, this market is still not ready to furnish a new bull market.  It will be quite awhile before we see a new one.

Too many are looking for either a collapse or a race to a new bull market.  The higher probability scenerio is more of what we have seen this past year.  We could most certainly see more choppy markets, small rallies and small pull backs for the foreseeable future.  This market is lacking superior leadership; stocks with tremendous earnings/sales growth, superior ROE, and excellent price consolidation (chart patterns).  No matter who is elected this November, this market will need to work through the massive deleveraging in the system and the consumer changing from credit to a savings.

Enjoy the rest of your weekend.  Keep your focus on the best setups!

Market Speculator

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Last 5 posts by Market Speculator

• Quality Growth Stocks Lead the Way as Stocks Advance in Mixed Trade - June 2nd, 2009
• Re-Inflating the Bubble; Inflationary Pressue Lifting Stocks - June 1st, 2009
• Treasuries Begin Their Decline Striking Fear into the Stock Market - May 28th, 2009
• Follow on Twitter and Seeking Alpha - May 28th, 2009
• Sipping on a Cup of Coffee Deciphering Whether or Not The Stock Market is About to Make a Leg Down - May 11th, 2009