Bear's New Friends

These markets are abosulutely operating on the least of expectations. In trading, whether in the pit or from the box, it is always a question of what each position will let you get away with. Upon initiating a new trade, a case builds for either hanging or banging. Right now, the bulls are eating their own as the play on Wall Street is to take this thing lower. After decades of buy bias, the markets now reflect the general nature of programs designed to buy and sell a variety of market setups. Pattern recognition, parasitic, and other strategies permeating from black boxes have enveloped electronic trading and are pushing the market's daily action. Being a designer I have know problem with pointing algorithms at the market and turning them on. What I find interesting is the spin pushed every day now by large brokerage firms confirming their bearishness given the state of banks, brokerage, and the energy markets. Why would anyone listen to anything coming from the very operations which got hammered by sub-prime trades because their risk spread legs were abstract fantasy? When their trades would not work, they had to be rescued by the Fed and others. Now their play is cash up, get out or get short. Oh, and don't worry, they will let you know when the bottom shows up. I find it strange these great free market (we all know how they vote) professionals are racing the market lower, and the faster the better. These guys do not have a clue.