This Fine Old World

Yesterday was the full moon. I'm never really sure how much to say about such things because it seems to be seen as flaky and weird. That's okay. That's life, as Frank would croon.

But I don't let it
Let it get me down
Because this fine old world
It keeps spinning around.

Here's the deal. The market is simply a collection of millions of momentary agreements between buyers and sellers. These buyers and sellers are men and women. Men and women are 80% water. The moon has such a magnetic effect on water that it literally moves the entire ocean up and down all over the planet. At new moons and full moons, the pull is more pronounced. That's it.

While it's a sure thing in nature, humans are more complex. Maybe it's that other 20%. The result is that nothing is a sure thing in the market. There are only probabilities.

Yesterday, the full moon was due to occur a few hours after the 4pm EST market close. I came in wanting to be very short, but when I saw the market fail to tank, I wondered to myself if it would levitate until the close. It did.

This morning it looks like it will gap higher. I thought it would gap higher yesterday morning. Today is as good a day as any. I'm selling into it little by little.

I think the market is building on the expansion of the last few days. People are getting bullish again. There are hopes that the EFSF expansion will succeed. There are hopes that the Fed minutes will say something today.

Hope is weak.

I'm looking at a trend line that points to 1206. There is also 1220.39 and 1230.71. There is also the abyss should hope give way to fear once more. Investors will soon realize that nothing has been fixed since Lehman. And nothing will be fixed by the EFSF.

Price is the fix. And there's a long, long way to go until it does the trick.

In the meantime, let's hope the market continues higher on low volume and weak internals.