Stocks were in rally mode today despite the poor economic news out of China over the weekend, or perhaps because of it.
Some of the Streetsweepers noticed that Fed Gov Lockhart did not say ‘September' in his latest pronouncement about his bias towards raising rates, barring an economic Armageddon.
Why in particular a three month difference in raising rates off the zero bound by 25 basis points strikes me as odd.
More likely today's rally was a ‘just because' excuse to start a new wash-rinse cycle, because after all, the little people were selling into the fears of last week, so it is now time to turn the greediators back on and heat this bubble back up.
This market is so bent that it is hard to be cynical enough about it.
Let's see if they can keep this going, with a little help from Shake Shack after the bell. What an emblem for our financialized economy.
Everyone would like to know when this bubble will end. Timing is difficult. But the ‘how' it may look is a little more approachable. For an idea on what it might look like, see the video below.
Have a pleasant evening.
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Click on picture to enlarge
