"It can't feel wrong to be so right"

~ "Buy.. Buy.. Buy!!  Keep buying, dammit!   Yea Mom, I love you too..."

Well... we told ya...

We said last week's rise in the stock market was based on BS..

We said Mario Draghi, head of the ECB was blowing smoke up the investors' butts with continual empty words that problems were solved with no substance behind..

We said the market would drop once reality set in..

Wall Street takes a hit from ECB disappointment (Reuters)-- "Stocks fell for a fourth day on Thursday after European Central Bank President Mario Draghi disappointed investors hoping for immediate action to contain the euro zone debt crisis...

Draghi said the ECB would gear up to buy Italian and Spanish bonds on the open market but would only act after euro zone governments have activated bailout funds to do the same, disappointing traders after his pledge last week to do "whatever it takes" to save the euro left many thinking action was imminent"

So the Dow dropped -92 pts to 12,878...  We honestly wish it dropped -1092 pts but we take what we can get..

So what can we all learn from this girls & boys?

1)  All politicians, central bankers, etc are utter impotent liars.   They will say whatever needs to be said to calm the stock market or a nation's populace.  Truth is not their friend and nothing they say should hold any value to anyone.

2)  The global economic situation is not fixable... not in a way that would prevent the toppling of many, many banks and cause many, many politicians globally to immediately become Hated by the populaces, un-reelectable and even in some cases to fear for their safety.

If there were painless or semi-painless solutions to combatting the global depression, they would have been implemented and we'd all be on the road to genuine, sustainable recovery.

3)  Investors and stock traders are morons... imbeciles... complete & total idiots.   They may have attended Ivy League universities and wealthy enough to afford all the cocaine and hookers their black hearts could want, but they're still idiots.

Investors follow in packs.. they follow the trend; the crowd.   They buy when others buy and sell when others sell..  Sometimes it works out... usually it doesn't...

4)  Don't be in the stock market...  if you are, sell now.. even if QE3 is enacted, the bang for the buck is going to be small and your $$ will be sucked away quicker than a vacuum cleaner.

Approaching the 'Put up or Shut Up!' moment...

We're going to start today's posting with some story time..  Don't worry folks, as with everything we write, there is a point being made..

Once upon a time, there was this boy-- his name was Ben, and every day he'd sit on the front step of the porch, eat ice creme or such, dream he was more important than he really was, and just watch the world go by.

And one day, Ben notice a pack of vicious, cutthroat dogs across the street.  These were some real dirty, untamed mongrels-- so filthy and wild, one dared not attempt to pet for fear of having hand ripped to shreds.

Ben was a lonely little boy and wanted those flea-ridden dogs to like him, so he whistled and called out to the dogs to come to him.   When the dogs saw Ben, their first instinct was to tear him into pieces but they noticed the ice creme cone in his hand, so they approached peaceably.

Ben also quickly realized why they bothered to notice him so he gave up his ice cream to the dogs.   And so pretty much every time he saw the dogs re-appear in front of his house, he'd give up his ice creme to them.

The filthy strays didn't appear often on Ben's doorstep because they had other means of finding food so receiving ice creme from this lonely, pathetic little boy wasn't a top priority.  But soon the food was gone-- the ice cream became the sole means of survival...  So they appeared at Ben's doorstep often.

But Ben had no intention of always giving ice creme out.  He just wanted to feel important at those given moments.  So the dogs would appear, Ben would promise ice creme in the future, and even though dogs don't understand human-speak, they assumed eventually they would get fed.

After a while of this game being played on them, the dogs growled and showed off their razor sharp teeth; their cold blood-thirsty eyes locked impenetrably on this stupid cowardly boy..   And expressed as  wild dogs best can, that they weren't putting up with this anymore..  If there was no ice creme by the next visit, the dogs would shred the boy to pieces and have no second thought.

Ben, being a lonely, sad little coward of a boy realized he didn't control the dogs as he imagined, and now the dogs controlled him...

And the next day there was plenty of 'Quality Enticing' brand ice creme for the brutal, base animals to gorge upon

And everyone lived happily ever after... well except Ben who ironically ended up 'bitch' to the bitches

One of the reasons the stock market spiked about 600 pts within the last 3 trading days of last week was the hope that to Investors, Bernanke would finally deliver QE3 at the beginning of August rather than September or beyond...

All that fresh money into the market to profit from... yum yum..

And today the Fed announced that its keeping watch and will do something if things get worse, etc.. But...  No new additional stimulus this month.

The Dow was at +20 before the announcement... its at -20 now.  And while that swing isn't newsworthy or dramatic, one does not need to see a massive sway to know that Investors are no longer investing in a post-Lehman Bros world off companies' dividends, but off Federal Reserve rumor.

Without the Fed, the stock market would be toast, and these ravenous dogs in expensive suits would starve to financial death..

'Buy on the rumor; Sell on the fact'

How much longer do you think these soulless people are going to allow the Fed to continually dangle QE3 without following through, before they show their sharp teeth toward Bernanke?

When it comes to profit making, patience is thin toward anyone impeding it

So the focus now is on the meetings tomorrow and Friday with the ECB...  Hopefully that will turn out to be a major disappointment like all other expectations and results in a nice drop by Fri afternoon or Monday..

Remember, if someone had a true plan to save the Eurozone or the global economy, they wouldn't announce it... they'd simply implement it.  

Or you can think of it like this-- a man sitting at the edge of the bed proclaiming to his woman how great a lover he is...  and never moving from that spot.

Everything in life ultimately has its 'Put up or Shut up!' moment..

In finance and markets, we're quickly approaching it.