MMV,
I agree with what you say. I believe the Fed, for whatever their reason are, are not only feeding the bubble, but are giving the big houses the green light to fearlessly run these tulips up.
Case in point, the daily addition of liquidity, coupled with the refusal to even jawbone the bubble in any negative fashion.
Bears have been mauled, crushed, beaten, stomped, etc. CNBS is a litany of one grinning bullish advisor after the next, and the bearish ones are beginning to sound just a bit ridiculous. We have all kinds of powerful events happening around us, but the market keeps on climbing.
Can this market find a more historic valuation without the Fed changing their posture, even if it is in a subtle way? |
