Bazookas, Howitzers and Bailouts

Scary words, all are desperate tools, but freakishly and weirdly good for stocks.  I don’t care if Brussels is a raging success on Friday, Europe is still doomed and is not only in a recession now, but will go into a deeper one soon.

What we are seeing here in the market has nothing to do with Europe. It has everything to do with performance chasing. The tide turned with our favorite superhero last week when The Bernanke started the ball rolling. The market is a degenerate gambler now with unlimited hordes of idle cash and time on its hand. Shorts are helpless and have left the building. They will be  back. Remember, “ours is not to reason why”. Translation? Just buy for now. There is no playbook for this insanity. The bulls will probably pull in their horns a bit before Friday rolls around though.

Good luck and don’t take any wooden euros.

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