Spain Throws The Bums Out

Asia and Europe are a sea of red. So are US futures. The US dollar is up strongly, and the Aussie, Canadian, Pound, and Euro are getting pummeled.

Spain populace voted to through out the Socialists this weekend. Whether this adds fuel to further protests throughout Europe is unclear, but it sends a signal: there is a growing trend throughout much of the world of people getting fed up with government.

This is bad news for globalists and great news for people everywhere that have simply had enough with the ignorance and arrogance of our public servants.

Today the S&P will likely test the gap at 1312.62. It remains to be seen what will happen after that.

If we don't get too far below that point, and if it looks like we're stalling there, I will test the waters using some badly beaten down SPY calls. The thing is, if I'm wrong, I'll be happy.

I think this entire market of inversely-correlated assets against the US dollar is a bloated pig. It needs to be taken out behind the woodshed and shot. That will be the only way to impose some reality in the marketplace, for policymakers who think they can control markets and the gullible players who believe them.