The run for year end bonuses is on...! This market can't go down until it stops going up...
And it will go up an anything and everything... Bad news is Good News... Good News is Good News... And No News is Good News...
The Gold Bash trade is active... And the FED is spreading Happy Talk at every opportunity...
Of course it's all fake because the economy is slowing and will slow markedly in 2007...
But it's not about 2007...it's about having big paper gains at the end of December 2006. Liquidity is the markets friend...and the FED has been printing money for years to "help" Wall Street..."
Even to the point of getting a massive gold and oil inflation earlier this year.
The collapse of the house bubble is still on-going...and should justify even more FED Happy Talk in the coming months...
Still, I doubt that retail investors are chasing this mini bubble market...but the money managers are...and they have ALL THE FREE CASH they need now thanks to decades of Republican Rule...and the Greenspanian BUBBLE FED...
Buying gold on the inevitable big dips...might work out in 2007...when reality comes back.
But reality could come back at anytime... The consumer is weak and getting weaker...everyone is using credit cards nowadays. Let's hope they remember that the Bankruptcy Law is no longer working for the debtor...but for the Banks!
FOR TODAY AND TOMORROW IT'S ALL HAPPY TALK...ALL THE TIME.
