ONE MORE THING
I will not be trading today or tomorrow but a few things about this market seem pretty obvious -
1) The market is moving up every day with hardly ever a rest because equities got far too cheap at the generational lows of March 2009- investors were pricing in a depression and now its clear thats not going to happen;
2) The market knows nothing as prices are a function of whats in front of a traders/investors nose- what will be in 6 months the markets nor investors haven't a clue;
3) No one knows the entire impact of the government programs on the economy - but its pretty clear that if the banks were not "saved" by the government the markets and the economy would be in a far different place- not much play on bubblevsion about that or from Rick Santelli - just let them fail was the mantra from the right - I doubt that would have worked out very well for investors or the country.