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Insiders Club - 2.4.2015 Bookmark

2.4.2015

Good morning all, are you ready for another fun filled day of counterintuitive market action?  Good because you'll probably be fed more of it today....

I laid the numbers out this weekend. The market HAD to defend the December lows, or chances of a really deep correction were very high. So Monday we reached down and touched them, and tried to bounce. But as the day was wearing on, they couldn't get any traction. We were down 120, up 100, down 100, etc. So they manufactured some interesting headlines about the newly elected Greek Government abandoning what it ran on, and giving in to the debt load.  It was bogus but it did the job, we gained 200 points.

Yesterday they ran for the roses. It didn't matter that the Greeks denied that they have changed their tune, it didn't matter that 5 economic reports missed their estimates. In fact in a very strange twist, last week we were told that weak oil was great for the consumer and ultimately wonderful for the economy. As oil was raging higher yesterday, we were told that higher oil prices means the economy is growing and that's good for the consumer and the economy.  Confused? You should be. They can't both be right.

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