One Trader Gives Up: “I Just Really Don’t Care”

Traders have officially stopped trying to rationalize this market. And that's probably a good thing when it comes to maintaining some semblance of sanity. You can't explain these levels in equities or credit with anything that even approximates an argument about fundamentals. Any fundamental metric you care to consult on equity and credit suggests that this has gone beyond euphoria. It's sheer lunacy. As I've noted on any number of occasions, if you really want to get a sense of how insane t