T/A ETF AND INDEX

[shortterm]

Talking heads confusing the market -

So we rallied on rate cut expectations. But the feds might be getting a bit worried about the markets jumping the gun, as Paul Volcker came out saying that US inflation pressures will persist. I would be surprised if he spoke without the knowledge of some of the feds, at least.

And oil is recovering a bit. As I said, though, the consumer confidence probably will come above expectations on account of gasoline price falls. It would be sweet for shorts if the future expectations index would fall significantly. Asia didn't exactly think think highly of the US rally and mostly failed to follow.

http://www.bloomberg.com/apps/news?pid=20601087&sid=a8I2UkcaiDQg&refer=home

Volcker Sees Risks of U.S. Inflation Creep, Pressure on Fed

"Sept. 26 (Bloomberg) -- Paul Volcker, who halted a wage and price spiral as Federal Reserve chairman between 1979 and 1987, said he's worried both about inflation and pressure on the U.S. central bank to not do anything about it.

``I am a little bit more worried about inflation,'' said Volcker, 79, speaking at a discussion sponsored by the Women's Economic Round Table in New York yesterday. Gerald Corrigan, who served as New York Fed president from 1985 to 1993, said he shared Volcker's concerns.

While the inflation rate isn't ``high'' or ``running away,'' Volcker said, ``it is kind of creeping up, and I am impressed by the degree of pressure, if that is the right word -- psychological pressure, political pressure -- there is not to do anything about it.''"