S2 Option Trader

[SyndicateTwo]

This market is so rigged, it's sickening. Most daytraders I follow are all saying they are seeing the same thing I am in the way intra-day reversals happen. Totally rigged. Almost untradable.

So, here we are at SPX 1300 or so and the expected EPS for the SPX for 2012 --- 2012! --- not 2011, is about $100 per share on the most optimistic scenario. A PE of 13 gets you to...wait for it...1300!

So now what? The Fed has clearly been the cause for this. But now everything is so overpriced, or fair priced, it seems there is little upside. The Fed is supposedly done with QE in June, and considering the SPX was about to break in late Aug the 1040 neckline before they came out with QE thus running the DOW up 2000 points straight up because they basically made all other investments un-investable, the 2nd half of the year is going to be very interesting without big daddy out there behind them.

It seems all the hedge funds and trading firms are not trading the stock market and thus trading commodities, hence the huge food price increases, and thus, problems like Egypt.