Mercy call!

It’s getting to point that we’re lost for words as we measure the toxicity of this market and it’s surroundings.  It is sad that companies- banks are getting destroyed without any leadership standing up and putting an end to it.  Where's the cavalry?.   There are ways to do it, but nothing is being done and it's causing an uproar!.   Some of it you see in the media,  some of it is underground.  The one place it's evident for all of us is in the market where displeasure is seen with everything coming out of D.C.  It's loud and clear!   The market is in a desperate state, even the techs were finally succumbing to some pressure.    An act of desperation was seen in the previous days rally as the markets here relied on global influence only to have the rug pulled out beneath it by morning.    Simply, Chinese premier pulled a 'Geithner' move and left us asking who is responsible for making up these stimuli new spending measure rumors.    It makes no sense the market did what it did because of China, GM`s K filing or Moody's downgrade of JPM.    You would think by now any downgrade is priced into the financial stocks.   Moody's and peers are always behind the curve and it shouldn't be a surprise when they downgrade the sector players.    So, once again we had what amounted to miniscule short covering rally.   This market is only tradeable for intraday scalpers.    As previously said this week…The shorts have no reason to cover and take profits as they see a market with no buyers lining up.  Shorts just press until proven otherwise.

The concerns are mounting regarding if D.C can halt the steep decline in the economy!.   If all this fear, frustration this week is just a lead up to the labor report (expectation 650k loss), we'd be surprised.   It's much more than this.    If a rally of sorts occurs Friday off the report,  we'd simply use it as a trading vehicle like all the rest recently.

The DJIA is now down 20% since inauguration day.  D.C, do you see or hear?