25-26 weeks of consecutive outflows makes your point already. Why do we all simply assume that the equity market uptrend is fueled by anything outside of BD front running and Fed POMO? Of course, you can leveraged funds to the mix, but my point is the market can rise for an extended period of time with net retail investor selling.
why does Fed buy $600B of bonds? why not give out $2K gift cards to everyone in US just in time for the shopping season?
Quite some time ago Bernanke wrote (before he became the Fed chairman) the Fed has one tool in its war chest that it can use almost indefinitely when all else fails. You probably don't have to think too hard to guess what that tool is, assuming you don't already know. Yeah, round after round of QE's. Can you imagine what will happen to the markets if and when BB has to take away the crack pipe? I've never actually watched anyone withdraw from crack but I've heard it's pretty damn ugly. The country is gonna get pretty sick, pretty fast if BB runs out of crack.