Zeev's Turnips Patch-No Politics (ZEEV)

[federal reserves]

Bear> QCOM has H&S formation

should break soon I guess.

If we can break the 200DMA in the SnP today on volume, we could start the crash, particularly if crude and rates keep rising while the FED jawbones about no inflation while telling folks trade deficits don't matter. A more sorry bunch of reckless bankers I've never seen!

They did do some pumping today (1.5b), just a touch though, maybe not enough given how close we are to outright panic.

http://www.ny.frb.org/markets/omo/dmm/temp.cfm?SHOWMORE=TRUE