IT-ETCD. THE MARKET WANTS TO SOAR, Both Greek and Spanish bond auctions went better than expected. Don’t even
bother trying to think this stuff through. The reason why I have a ‘long only’ mantra is because I am alerted to the fact that central banks want to create a bubble in equity prices. Just like they did with housing, they are doing the same for stocks. Every once in awhile, stocks start to reflect the horrible news and go lower. Then, like magic, some good news gets pulled from a Greek orifice and they trade up.