THE MELT UP CONTINUES...AND WILL CONTINUE AS LONG AS THE FED IS VOWING TO SUPPORT STOCK PRICES...WITH QE2...AND ZERO INTEREST RATES...
THERE IS NO REASON FOR STOCKS TO GO DOWN... TRUE, THE REAL ECONOMY STINKS...BUT STOCKS HAVE "TRANCENDED" THE REAL ECONOMY...IT JUST DOESN'T MATTER ANYMORE....
SO STOCKS WILL GO UP...UNTIL THEY DON'T...THEN THEY WILL GO DOWN FAST...
WE'VE SEEN THIS MOVIE BEFORE...THIS FEELS LIKE THE 1999 MARKET ALL OVER AGAIN...EXCEPT TODAY FEWER PEOPLE ARE TRUE BELIEVERS...
ESSENTIALLY THE HIGH FREQUENCY TRADERS ARE TRADING TO EACH OTHER...AND SO FAR ITS WORKING...
THIS IS THE KIND OF MARKET THAT DEFIES EXPLANATION...SO DON'T EVEN TRY...YOU'LL LOOK FOOLISH...
STOCKS WILL GO UP UNTIL THEY GO DOWN...IT HAS NOTHING TO DO WITH ANYTHING OUTSIDE OF THE MARKETS...
USUALLY THERE IS HOPE OF "DISTRIBUTION" TO THE RETAIL SUCKERS AT THIS POINT... AND SOME OF THAT MAY BE HAPPENING...
BUT NOT MUCH...
THIS IS SPECULATORS SELLING TO SPECULATORS...
THE RETAIL SUCKERS ARE NOT COMING BACK ANY TIME SOON...
