so many bozos don't realize how expensive stock are
I agree with you guys regarding the shakiness of the economy and the fact that the Fed is doing its best to inflate values. But the Fed can inflate values for a long time before it all comes crashing down. It's a bitter situation, the nimble few on Wall Street benefit disproportionately compared to the rest of the country. But the fact remains that the Fed can actually make this happen with massive quantitative easing. So how does one guess when the bubble pops? A year from now? Two years from now? It's an absurd situation, but the reality is that investors have to deal with this absurdity.
"But the fact remains that the Fed can actually make this happen with massive quantitative easing."
The buy volume in this "rally" discounts any premise that smart money is buying this rally. I don't understand the concept that firms are going to go into inordinate risk, just to help Benny manipulate the economy. I didn't know capitalists were suddenly so altruistic, ready to fall on their swords and throw all their money into SPYs and the like, at a market top, at that. If so, where's all the volume gone? How is it that we can assume all the Wall Street corporate investors (note insiders massively are fleeing the market) are dumber than your average investors, who went AWOL on stocks and into vehicles they perceive as safer, like cash or bonds? (Though I wouldn't agree a lot of bonds are a smart play, at all, but they are perceived as safer by the masses.) If everybody is seeing these new QE2 funny money market glories ahead, why is the volume dropping like a rock, the more tired this "rally" gets? Hmmm... May make one wonder.