The Fast & The Furious

So, have you “enjoyed” your investing year?

The winners and losers have come in record time. Some have come on no news. And the liquidity that usually prevents big swings has been non-existent. Fascinating that many stocks have moved 20-60% in a few days or weeks and the major averages have been locked in a relatively narrow range and are unchanged for the year.

I for one am glad to see the favorites finishing the year leaping to test their yearly highs. But the backdrop of the macro situation has never been worse. Dr. Fly highlighted it in an earlier post when he revealed his “Mormon Streak”.

That said, as far as the overall market is concerned, the worse things look and feel, the higher the market will go. And if you think the numbers are not-so-hot now, just wait for next quarter! The reason for the market to continue its rise? “Investors” (if I may call them that) must put the bank-locked liquidity somewhere other than Treasuries.

And Santa came just in time, last Tuesday.

The action has been faster, thinner and more wild than at almost any time in history. Yet somehow the averages remain just under your favorite sell-side strategist’s year-end target. Amazing how that happens.

The bottom line (and who doesn’t want the bottom line!) is that you don’t need to worry about a thing because there is more money available to banks and Sovereigns (U.S Government included) and Apple than at any time in history. Defcon numbers be damned!  Money can paper over any problem forever. Right?

Enjoy!