Who's In Control? OR....

Is the FED literally shitting in their pants? Today was a day where the US equities traded down 40 and up 40 points or so, ending a 4 day winning streak with the Dow Jones closing down a measly 9 points. Yesterday I wrote about the only market worth trading was US equities to the short side and today that seemed to be playing out just fine. At 2:00 EST the Fed Minutes were released and the markets traded pretty much sideways for the reaction. CNBC had a feature article today, here it is
Fast Rising Mortgage Rates Are Dire For Housing. Please read!

If you don't believe that the FED controls or has their hands on these markets, YOU ARE A FOOL!
After the markets closed, Ben Bernanke comes to the microphone and tells the world that the US economy continues to need highly accommodative monetary policy. What happened to the TAPER nonsense? I guess BIG BEN cannot take a rising US dollar and more importantly rising US interest rates and heaven forbid the EQUITY markets start to roll over! Look at what his words about offering more crack-cocaine to the financial markets did in just a couple of hours.

The DOW futures have rallied 150+ points, the US dollar got crushed with the Euro being the biggest beneficiary- look at that chart, wow 300+ points in minutes. Even the YEN was up over 150+ points. Sorry not to show the chart on GOLD but even it traded up nearly $40 to $1288! Not much of a move to the upside in BONDS but he did put a halt to the slide for now.

How quickly things can change in these markets especially on ONE person's words alone. If equities keep rallying on this, you cannot tell me THIS IS NOT STUPIDITY! We are really DOOMED, if you do not see it by now, you have been warned. At some point THEY will lose control of these markets, but who am I to tell you they are losing it now!

Totally FUBAR folks. Have a good night!
Martin