Message of the market is.......?

Market is giving a verdict on the state of affairs in US & Europe, Leadership in both continent is spineless NOT willing to even acknowledge that there is a serious problem which needs immediate resolution.

In US Obama is claiming US IS & ALWAYS will be AAA...a statement which challenges FACTS & INTELLIGENCE of US citizens who KNOWS better....

This week MS,C,JPM all downgraded US GDP projection but cream of the crop GS had to downgrade THREE times in August...BUT Obama & US politicians see nothing WRONG.....

SO..what is the message of the market ?

Worldwide investors & traders have lost confidence in US & its ability to even RECOGNIZE that there is a problem...unless this class of 2011 politicians is not thrown out, nothing will change.....

SEC on the other hand has no monitoring of how manipulation is ripe in US trading, HFT now controls every tick in most stocks.......another spineless US agency with no accountability.

SO there is focus on Friday in Jackson Hole economic event so Ben Bernanke does the heavy lifting for losers.....

As of Friday's close, we are down 18.03% in S&P 500, RSI @ 33.37....

Looks like that we are set for a "technical bounce"

I do not see this market going higher than 1210 area...then back down to new lows.....

We currently have "double bottom" in indices with Nasdaq closing lower than previous lows.....

Looks like volatility will remain high like previous bounce, which will be a tell tale of weak bounce & test of triple bottom......

Based on inaction by US politicians triple bottom may be a given.....

SO..how you think many popular stocks have fared in this double bottom, here is a breakdown with high, close, $ loss & % loss :

AAPL $404.50 $356.03 <$48.47> <11.98%>
CMG $337.32 $279.37 <57.95> <17.18%>
PCLN $561.88 $488.95 <$112.93> <20.09%>
AMZN $227.45 $178.93 <$48.52> <21.33%>
GOOG $627.50 $490.92 <$136.58> <21.77%>
BIDU $165.96 $126.98 <$38.98> <23.5%>
LULU $64.49 $46.00 <$18.49> <28.67%>
CRM $160.12 $111.00 <$49.12> <30.68%>
CAT $116.06 $79.97 <$36.09> <31.10%>
NFLX $304.79 $205.21 <$99.58> <32.67%>
SINA $147.12 $90.05 <$57.07> <38.79%>
NTAP $61.02 $35.95 <$25.07> <41.08%>
FFIV $145.76 $69.32 <$76.44> <52.44%
APKT $84.50 $39.92 <$44.58> <52.76%>
ARUN $36.40 $16.34 <$20.06> <55.10%>
TZOO $103.80 $32.55 <$71.25> <68.64%>
RVBD $44.70 $20.61 <$24.09> <68.79%>

There are many ways to analyze above "reality"......First, this is a "bear market TAPE"

Second, this market is "not business as usual"

Third, there is a dire need to learn from above reality, i have observed a "real stubbornness of NOT to do any thing different"

This is a scary market & adaptability to above is more than urgent.

Try to increase knowledge base from this difficult market.....just imagine IF we go to new lows.....after 1100 support, next support maybe 1040 area..that is another 5.5% slump......

Too much complacency & too much entertainment focus on CNBC. Money is NOT entertainment ?

It is your money, you must place it prudently in your trading account or IRA or ROTH IRA...it is your hard earned $.....

Wall Street teaches you to LEARN & ADAPT "immediately" to new reality.

PRESERVATION of capital should be Job 1.

BLOG does NOT give buy or sell.

Saleem