Who is the moron who has decided that there should be a renewed allocation into the ex-leadership technology stocks?

Apple, Google, Priceline, Amazon. And after that a plethora of smaller, speculative names are reaching for the sky. Plus, every economically sensitive Transportation stock is up big today.

With the market indices blasting over their intermediate term resistance and the top of the trading range and yearly highs in sight, markets are doing their best to give you the impression that everything is now fixed and OK. In fact, market participants (HFT or otherwise) are telling you that the “All Clear” is being given now.

The risk is that on Thursday, Dr. Bernanke says the same shit and then really weak economic numbers present themselves. But it has been proven over and over again that the weaker the economy and the more fraught with danger that the financial system is faced with, the higher the market will go.

The Central Bank Training Facility has promised nothing short of unlimited liquidity and the markets care only about that. In fact the money the FED pumps serves to boost asset prices at the expense of any and everything else. The Capital will never “leak” into the real economy otherwise we will be faced with the hyper-inflation that many Old Timers fret about.

So there is ZERO RISK in unlimited capital creation so long as it stays locked in the closed loop of the banking/investment world. At this pace, new all time highs will be around the corner, just as soon as GDP turns negative for 2 quarters in a row.

Hopa!