There’s no such thing as a market too crazy to day-trade, but this one is getting close. I put out  a 2048.75 rally target in the chat room yesterday afternoon with the futures trading about six points lower. Several subscribers jumped on it and thanked me a few minutes later when the E-Minis popped to 2049.25. But even before we’d finished high-fiving each other, the futures plunged in a mere minute to 2030.25, on their way to a so-far low Wednesday night of 2021.75. (Note: My downside target then, and now, is 2017.75. It can be bottom-fished overnight with a tight stop-loss.)

I view the plunge as just another sleazy shakedown, since it was triggered by news that the EU plans to curtail borrowing by Greece. The story shouldn’t have touched off any alarms, since the recent electoral victory of leftist lunatics in Greece effectively cleared the country’s path to bankruptcy. The fact that U.S. stocks dove anyway suggests it was just a brazen manipulation by the child molesters, father rapers and mother stabbers who run the game.

A further, unintentionally funny note on Greece yesterday came in the form of this headline atop the Wall Street Journal‘s lead story: Investor Optimism Grows on Greece. We’ve seen this headline, or something like it, many times since the global financial meltdown of 2007-08, often in connection with that other basket case, Spain. Don’t these bozos ever learn?