Trader Dan Norcini
After
watching the effects of the mediocre payrolls number yesterday (Friday)
which culminated in a push over 1600 in the S&P 500 and a print in
the Dow over 15,000, I thought it might be useful to note a few things
about this most recent example of a hysteria.I am on record here as stating that the entire stock market rally is nothing but a Federal Reserve induced bubble brought about by artificially low interest rates starving investors for yield elsewhere. The Fed, along with the Bank of Japan and the ECB I might add, are determined to corral investors and herd them, unthinking like cattle, into equities; the goal being to create an atmosphere of general euphoria towards the economy boosting consumer confidence in the hopes of inducing them to take on more debt and spend.
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