Consumer sentiment is a lagging indicator, and the sentiment is based solely on the rich feeling better about their finances going forward...gee, I wonder why...
The financial media has absolutely no idea why the markets go up or down, but they try to make it look like they have all the reasons for stock movements.
I remember when the bubble finally burst in 2000, it was the day after then President Clinton was talking to British PM Tony Blair about stem cell research. (It's true, you can look it up.). I'm sure a stem cell research discussion caused everyone to take their profits and realize the markets did not support the fundamentals....lol The point is, we will wake up one morning, or we'll see a mid day reversal at some point and no one will really know why.....except of course CNBC, they know everything.
The Fed may think he has an exit strategy, in reality he can't use it, because he's stuck. QE is not working, but the market likes it. If they take it away too soon, it may lead to deflation. If they keep it too long, the market could eventually crash anyway. What a mess!
You are by far the most arrogant, narcissistic clown I've ever come across in this lifetime. Clearly you have a narcissistic personality disorder, and need professional help......
If the market starts to correct, and volatility increases (likely), contango won't matter either way.
I laughed when I read your post yesterday about feeling like we were watching aliens taking over. It still feels that way. Will they ever let the Dow go down? Here's another late day rally as I type, Dow now up over 20....
You forgot the 3rd mandate dunrunnin....to drive the risk assets higher to create a wealth effect. And it hasn't worked yet.
The bad part is the Fed is in a box, he's stuck, and can't or doesn't know how to get out of it. In his last speech he said he could taper, or increase the bond buying. I mean, that is just sheer nonsense. It doesn't work, so he buys more?
Just stop. There's enough class warfare in this country, exacerbated by political agendas. This IRS thing is a huge violation, as is the AP thing. Stop trying to reduce it to just a political battle when it's a serious issue.
Housing starts plunged, jobless claims went way up. Yet the market is flat, and climbing again. All kidding aside, how will the institutions unwind their positions? Or are they already selling to the dip buyers? This can't go on much longer without a crash.
He should sing "When Doves Cry", while wearing a "Raspberry Beret".
Deutsche Bank raised the PPS target today, from $35 to $50....and it's trading over $90.....
TSLA is now up about 125% since April.....And they don't even have an operating profit. This market is beyond a bubble. This is 1999 all over again.
There you are! I was beginning to worry about you. Yes, your post will finally be the market reversal we've been looking for. Notice today when the Dow "tested" the flatline, they pumped it right back up with our friends the computer buy programs, only to finish the day over 60 points up. That way, they can do it all over again tomorrow!
Yes, keep buying everyone, Birinyi says we're going to 1700 soon, and then 1900 before the end of the year..Let's get there by next week!
The Dow is ridiculous. Each time it gets to flat, some moron or algo drives it right back up. The Nasdaq is getting hit by AAPL, which is getting pummeled. But the Dow really needs to correct, soon.