Apr

11

 The market has moved up impressively like a race horse running a fine long course (narrow volume though). Only the aging Colonel Bob Dixon (the unseen market driver) can jockey the still robust and beautiful steed, Ol Rebel Commander. The shiny black bridal straps mirror the deep beautiful eyes of the well kept race horse. The crowd loves to watch their favorite at the holiday race as the Colonel takes the prize despite his age and the danger associated with racing an older horse who doesn't run regularly.

Wouldn't it be wise for Colonel Dixon to finally sell the horse (market) to this young man (Ben–the public)? Yes, it would be prudent on all accounts for the deal to get done and through the urgings of caring matron and unwitting lass to arrainge a fair market price for the deal. They even throw in the custom bridal as a courtesy since the horse is accustomed to it.

When the public hitches Ol Rebel Commander up to a buggy and drives on home (buys into the recovery story and long the market) its odd how the horse runs right up on the boardwalk instead of stopping in front where the hitching posts are. And isn't it odd how the horse has to be guided through turns in the road, as if it would just run straight into the high grass if left to its own ways?

After the horse is home and properly taken care of, watered and fed, bedded and inspected–the truth of those deep beautiful eyes becomes clear. The eyes are blind, the high buff black leather bridal reflected a shine to them at point of sale and the Colonel was the only one who could jockey the Rebel Commander through a local race track that the horse had run many times before he went blind.

And you can't return the horse now, you are too far away now and it would hurt the girl's feelings and the Colonel's reputation. Somehow you like this horse anyway, so you put the bridal on and walk out of the barn.

***
The market seems to be guided by a very skilled jockey. This very low volume and technically narrow (local race track with local bettors) year long run has won a first prize (best 12 month move) The trusted and widely loved steed (that ol bull market dow of yesteryear) is loved by all. Now would be a good time, after taking a prize to offload the market onto whomever is left of the public that sold at the lows of March 09. The constant bullish chattering of financial tv (the young lass) and the seemingly "ok" numbers that indicate a recovery to occur(wife's deep concern for the Colonel's welfare) combine to lure the public into the deal. The market looks great, runs great, but there is something about its eyes I am not sure of (M3 heading down).


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