So, that’s it. Everyone KNOWS that nothing can touch this market. It is bullet-proof, Teflon coated, with Central Banks guaranteeing lower prices will not be tolerated.
You’ve been told that all the bad news has been discounted and the markets are climbing the wall of worry as money managers chase performance. The reality is that the market has rather discounted trillions more in free money and has ignored any and all risk. The free money is what is built-in.
Dare I say that your training is now complete.
I firmly believe that the timing of yesterdays European announcement of unlimited bond buying, the Democratic Convention and a new four year market high is a seminal event. Some say we are in breakout mode yet most breakouts fail. And volume is rising.
It has been folly to bet against the overall market in the current low volume, illiquid environment. But the election silly season is upon us and anything could happen.
True, the FED meets next week and after today’s shitty employment number and the bullshit unemployment rate, everyone is again calling for more QE. And the chase is on with the “big beta” stocks moving sharply higher. If I were a degenerate gambler, I would play these insane stocks “fast & furious style”.
But I wouldn’t let my guard down for a second.
And BTW, if the market stays here, Obama wins.
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“I firmly believe that the timing of yesterdays …announcement[s] …is a seminal event.”
I’ll heed that Scott, though my intelligence just considers it corporate corruption.
But who am I kidding, I be here for the profit.
Scott, funny how logic/perception and reality are completely disconnected. Ther will be no QE next week, just the usual jawboning from the Fed and China or someone else will step up to keep this party going for Ben until November. Just seems to be the drill of late.
IF we went from 8.3 to 8.1 unemployment #’s,then the clam wouldnt have to qe .he’ll just cite,things are improving,and still buy mbs’s under the table.i’m still getting hundred dollar bill’s from the bank with hank paulsons’ name signed as treasurer.so where is all this coin people say that was printed?
Scott, I live here in the DFW area and I can tell you the economy is definitely vast improved from 2009. It is palpable. Talking to my customers and factories, there is no question that demand is up significantly right now. Real Estate development projects that were put on hold in 2009 are now being galvanized into active projects. Manufacturing plants are being built and employers are having a difficult time finding qualified employees to work in them.
and now we know why Dallas Fed is hawkish.