Today was nothing more than the PPT throwing taxpayers $'s around. As shown in the chart below, this is the 8th such "suspicious" rally since the S&P peaked in October 2007 and we're lower now than at the close of any of those 7 previous PPT rally days.

The PPT must be desperate for the media to report that today's big rise in financials resulted from a leaked but supposedly positive document issued by the Citigroup CEO. As banking wizard Meredith Whitney laughingly commented earlier this afternoon on this leaked document: "Trillions in loans have been mispriced...[and] by my math, they don't make money in any of their businesses. They made money in Smith Barney but they sold half of that. I'm still not optimistic about them. They'll be forced to keep selling their crown jewels." At least give the PPT credit for creative stupidity.

Gee, I wonder if a leaked document on positive drill results from Michel Roy would result in a 38% rise in ECU shares while simultaneously causing the entire junior mining sector to rally?

Circus circus - VHF

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