How can the US stock market be back at 9000+?
How can the earnings of most major corporations be in the toilet, yet the stock market has continued to creep back up towards the point at which they were all making record profits (as reflected in the indexes)? How can the US finance industry, which makes up a large part of the US market, be in such dire straits yet the market rallies? It defies belief of course unless investors are forgetting the past, (assuming ~7000 was the bottom of the DOW) and pricing shares for the future upside only.
I note the DOW is moving within a small band of larger ups and small downs. I think there is a lot of market manipulation going on by the PPT. See here how insiders are selling their shares at a furious pace while this dead cat bounce is happening.
The US dollar is a basket case and its decline has started again as the printing presses start cranking and the “flight to safety” feeling from the intitial stages of the GFC dissipates.
I’m waiting for the correction. It got to be coming soon.
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