The Dow made another post-financial crisis rally high Thursday. To provide some further perspective to the current Dow rally and in response to several requests, all major market rallies of the last 111 years are plotted on today’s chart. Each dot represents a major stock market rally as measured by the Dow with the majority of rallies referred to by a label which states the year in which the rally began. The difference between today’s chart and last week’s chart is that for last week’s chart a rally was defined as an advance that followed a 15% correction (i.e. a major correction). For today’s chart, however, a rally is being defined as an advance that follows a 30% decline (i.e. a major bear market). As today’s chart illustrates, the Dow has begun a major rally 13 times over the past 111 years which equates to an average of one rally every 8.5 years. It is also interesting to note that the duration and magnitude of each rally correlated fairly well with the linear regression line (gray upward sloping line). As it stands right now, the current Dow rally that began in March 2009 (blue dot labeled you are here) would be classified as well below average in both duration and magnitude.

Notes:
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While Greece has been criticized for just about everything, especially about going on a debt binge, to be fair, that is the kettle calling the pot black. Let’s be honest. ALL Western governments have been doing the same thing. Greece is merely the PRELUDE to the Decline & Fall of Western Society.

….read more HERE

MF GLOBAL Continues to Undermine the US Financial Markets and the Rule of Law

The trustee overseeing MF Global’s liquidation has come out and confirmed that the amount of customers’ funds of the failed brokerage are now expected to be at least $1.6 billion. This gap has now risen from the previous estimate of $1.2 billion. This is the biggest financial crime perhaps in history far worse than Madoff. This is the outright theft of client funds that nobody is being called to account for no less the recipients of such funds being made to return them.

About $1.2 billion previously reported as missing has been traced to customer accounts and banks.

…read more HERE