Were you sweating the jobless claims number this morning? No worries. Housing and consumer confidence got you down? No problem. The market will never, ever do down again. Ben and Timmy are there with their “Fed put”. Tepper said it, the longs know it and the shorts fear it.
We move higher everyday, juiced by sugar and steroids, nothing organic actually, we are the perfect Utopia, downticks have been outlawed permanently and soon, books on short selling will rival the price of the original Alice in Wonderland at Sotheby’s as it will viewed as fine art from another era. No one is on the floor of the NYSE anymore and 70% of all trading is electronic. Welcome to the machine as algo’s run the asylum.
Good news is good and any bad news gets marked with the purple crayon that is QE2. See you at 50,000.
Have a great day.