A Bear Led By Broken Fee Junkies ~ The Risk Averse Alert

Wednesday, October 12, 2011

A Bear Led By Broken Fee Junkies

Here in the final hours of the first meaningful upside panic of several panics since August a slightly altered view fitting a moment when the only thing the hopelessly insolvent can buy is time finds the outlook very much unchanged...


Several times the past two days I have heard talk of October setting up to be an "outside month," wherein the month's high and low exceeds September's, while the S&P 500 closes out the month above September's high. A rare occurrence and wishful thinking appropriate the moment, as well. However if October proves an "outside month," better expect it negative rather than positive.

With a major G-20 flop slated for early-November as the plan to bailout insolvent trans-Atlantic banks currently being planned meets the same old unworkable fate, the only hope for the market is the meeting is delayed.

It's not like I am the first person in the world to figure this out...

company chart (JPM)
company chart (MS)
company chart (GS)
company chart (C)
company chart (BAC)

These pigs are broken for a reason, and it's not bullish.

Fast Money
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