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Strategies & Market Trends : Mish's Global Economic Trend Analysis
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To: mishedlo who wrote (64723)3/22/2007 9:24:13 AM
From: Crimson Ghost  Read Replies (2) of 116555
 
CONTRARY INVESTOR no longer contrary. Says join the stampede because the powers that be want to the market to rally and rally and rally some more.

"Although NEVER to be discussed or admitted in public, the Fed/Treasury/Administration/Wall Street brethren will do everything in their power to accommodate the financial markets in their push to higher levels. Why? Because they have nothing else left to "accommodate" at this point. And the true reality is that having two major household assets declining in price would clearly be unacceptable, if not unthinkable, to the greater powers that be. We say all of this in the spirit of and directed toward the importance of risk management. Although we take the recent events in the credit markets very seriously, we need to remember that the financial markets have been conditioned for decades now to trust in the Fed to keep them from sin. And the Fed implicitly did not disappoint with their commentary. Nor have they disappointed with their recent open market operations. Follow the money - don't forget. Or for those less aggressively inclined, don't let the steamroller of herd driven money movement flatten you. If the SPX can put on just half as many points as it has gained in the last six days, we'll be at new multi-year highs. Institutional investors everywhere will have no perceptual choice but to participate. It's just a good thing it's with OPM (other people's money), right?"
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