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Watching Paint Dry. Illogically.
As one reader put it earlier today, "is just being open for trading" a good enough reason for stocks to rally?
The answer, apparently, is "yes." Because by God equities rallied across the globe on Monday with Wall Street taking its cues from Europe and Europe taking its cues from Asia which took its cues from last week, etc. etc. Lots of cue taking. Three round numbers this year for the S&P:
Treasurys sold off. As Bloomberg notes, "10Y yields topped out just ahead their 2.237% 100-DMA."
of course QT is gonna not help and WILL cause a major problem..but the attitude is “well that may or may not be true, and certainly it does not matter today so,,,,,buy stocks!”
Nobody cares about anything…it is like everyone (but some of us :)) is putting their head in the sand and hoping it lasts
i liked Hussmans article title.
“Eyes Wide Shut”.
pretty much explains a lot.
it is difficult being a bear but getting long NOW, just don’t see it. so bearish it is.