[F]undamentals didn't matter a wit. What mattered was the macro backdrop. Since the March low, stocks of other companies -- both healthy and sick alike -- have risen remarkably, too. Citigroup is up 350% and Crocs is up 500%. [T]he latest shenanigans from government, banks, and big business may have had a lasting impact on the character of the market. I sense that many individuals have finally had it. The ruse is over, the curtain is drawn back, and what's revealed is that Wall Street is no longer about companies using public markets to raise capital in an efficient way that allocates it to those with the best prospects. Nope, it's a fraud in which you can spend all of your free time (or work time, as the case may be) analyzing product plans, marketing plans, management history, and so on just to be laid low by a bank that levers up too far or a single pen stroke from the Federal Reserve chairman. It finally became plain as day that individual investors are up against the Goldmans of the world, and the Goldmans own the casino via their connections to government and government's connections to the Fed. When the investment banks control the Treasury and the Federal Reserve, observing their actions alone is all that matters to the performance of a stock portfolio. Enough individual investors have seen that and realized that they stand little chance against such collusion that a crowd of former market participants would rather take their chances against inflation than the casino owners... http://jasonkelly.com/index.html