I think this is pretty dead on. all those quant trend following funds are getting triggered to buy off of news that is likely full of half truths pumped up by talking heads. it accelerated things on the downside, why not ride them up as well. its going to be an engineered takedown or some news that couldn't be supressed or spun that's going to bring us back down I think. either that or we will crank up inflation to tank the market in real terms while maintaining nominal levels in the indicies.
The suspension of Mark to Market is not the same as what was PROPOSED a month or two ago. The threshold for Level-3 assets being suspended from MtoM is quite high. It's not as simple as you have portrayed. There are securities and there are loans. MtoM does not apply to both. You need to read the fine print.
Let's face it, funds are under-invested in this market and are looking for "excuses" to climb back into this market. WFC's earnings come out on April 22nd. We'll get the details then. But right now, the S&P is extremely well bid, even going into a 3-day weekend. In other words, the MARKET wants to go UP!
Agreed !! The market want to find an "excuse" to go UP regardless how bullshit (or fake) is the so called "good news". I know the market UP is FAKE due to the virtual pumping, but who care ? The main point is to get into this market is to make $$$ I load a lot in 7800, will load more today.
What is different? Everything I read a month or two ago wanted relaxation on the strictness of market valuation of assets in effectively illiquid markets. Is that not what we have now?? Are you trying to say WFC would be predicting a profit this high even without the FASB's changes? If so, then why were analysts estimations so low?
The good news is everyone KNOWS it's bullshit. No one with any decency can read any news released today with a straight face. Look for a gap down on Monday. Everyone is going to be grabbing for parachutes. But there won't be enough to go around. I'm doing a very rare once a quarter play and shorting the cash close and holding over the weekend!!!! Monday should be fun!!!
Just curious, and am flat over the weekend, but why do you think we will have a big gap down on Monday? Market closed rather powerfully. I hope it works for you, but not sure what the reasoning for holding a short position like you mentioned. If your reasoning is '"everyone knows it's bullshit"....well.......everyone also knew that at the opening.