Market Astrology: Is Facebook Going to Bail Out California?

In my May 2nd article "

" I wrote about two dates that could become a serious setback to the economy and the financials - the dates were

and

. I also mentioned there could be news in May about a potential default in municipal debt, or a California default. This week, California's looming $16 billion debt makes the cash strapped state look like it could default. Some in the media

that the Facebook IPO could help California's short fall by bringing new tax revenue to the state. This could be the reason the Facebook IPO was moved to May 18th instead of June as was suggested earlier in the year. We could have a substantial bounce in the markets on

and into mid next week. This could be a bear market bounce with the possible opportunity to setup short positions mid next week. There could be another harsh setback in the markets

. The bloom may came off the Facebook IPO as there is a

to the offering with Venus retrograde in the first week of June. I prefer to let the dust settle on this IPO.

.