In the World of Wall Street Lollipops Taste Like Rotten Fruit and Rotten Fruit Taste Like Lollipops

The GDP was revised down as mentioned to an astonishing 1.6% from the initial 2.4% and that's good news, the market looks set to open higher! That's because economists (they're worse then weathermen-sorry if any of you are weathermen/women) expected a worse reading. However, just stop and think about that, from 5% to 3.4% to 1.6%, that's an alarming trend.

In any case, we are in Mr. Wonka's Wall Street and the pressure is on Bernanke to ratchet up the rhetoric. Wall Street knows and has known, their not waiting on Bernanke's speech to make plans, but Main Street is and the Administration is. The public is a panic that things are going to actually get worse is going to actually make things worse so Bernanke is going to have to pull out a remarkable speech to turn that tide, even if it is meaningless. This was the thrust of my reasoning behind what we are seeing in 3C. At 10 a.m. MR Bernanke starts his speech, watch for Wall Street's reaction because from what I understand it will be behind closed doors, at least fora bit.

Honestly though, consider what our core strategy is, it's not a bounce, but a bounce will help it. Now consider the state of the economy after every kind of stimulus you can imagine has been unleashed. Can you say Double Dip? I can even spell it D-o-u-b-l-e- D-i-p and the world will be right there with us. Again, this is why I tell you, we have an opportunity perhaps not seen in our generation to operate in a market that few will play in and far fewer will understand how to play in. The Wolf Pack is gathering, the full moon is rising, the scent of prey is in the air and the hunt is beginning. Welcome Wolves,  to Wall Street.