What's been powering the market? Max Keiser recently opined that the rich have been moving their wealth out of the USA since 9/11, Jesse has alerted us to insider selling, Mr & Mrs Average have been selling their holding and paying down debt, so...?
According to FT Alphaville (htp: Michael Panzner) it's technical/leveraged buying/betting:
Very likely it is still a combination of program trading, short coverings and portfolio managers desperately trying to make up for last year’s epic losses.
And when it becomes painfully clear that there are no more mugs to buy the rubbish off you?
3 comments:
Einstein said: 'There are two things which are infinite; the Universe, and human stupidity. And I'm not sure about the Universe.'
Carry trade and market volume. I thought it was interesting. Might be worth the 9 minutes.
Dollar Carry Trade and Market
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Thanks Tyrone, will look.
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