Hail to the chief

My thought on Bernanke

Thankfully, even though GOOG earning report was disappointing, SPX and DOW closed above 20 dma, aka holy grail moving average, which is encouraging. Due to the recent volatility, it is harder to predict what markets will do next, I think that it is lucky to see that someone handled market psychology and sentiment, I might add, "very well", even though it is not easy, but harder to deal with markets. Even though I noted speculative scenarios about ARM crisis which could be intentional or unintentional, if someone will be going to jail, as FBI is investigating, then, it must not be intentional, but the easy credit qualifying process was giving a chance to many while some have chosen a financial responsibility above their level. Again, I am glad that greenspan is out, not dealing with the problem as I think that we have a better chief than him. Of course that's my opinion.

Noted the Jan market performance statistics earlier:

http://investorshub.advfn.com/boards/read_msg.asp?message_id=26441460

Interestingly, while most of sectors and stocks are sharply down, Home builder/XHB is up 10% while technology/XLK down 16% during Jan. It is good that XLE is down 13% for the period.

It is hard to say which way markets are heading with the volatility; however, technical reading is hopeful. Market sentiment is a roller coaster either hopeful or pessimistic sentiment.

But I have to say that I feel better about where markets are heading because we have the intelligent head in charge as it is not easy to deal with market condition like this.