With Central Banks now openly buying stocks, how can the Bull end?

Are we at the point where the best indication of where markets are headed can be gleaned from observing the arc of heroin addicts? Clearly there are points in the process where they have not yet gone broke, their clothes are still reaonably clean and their groming, has not fallen apart completely.

Then all that changes.

 

A tipping point if you will. Lacy Hunt refers to it as the "bang point".

 

Central banks are historically the slowest and dumbest members of the herd. They have a near faultless record of buying gold at market tops and selling near bottoms.

Same story here.

 

It has been going on for a while, thus it can continue longer than we think.

 

Let us review the most insightful youtube video of all time.
http://www.youtube.com/watch?v=jllJ-HeErjU

 

lol ...

 

It will end up as minced meat...stock exchanges have to come down at least 10% this year.

 

That's a good point. These things almost always go on longer than one would expect. Timing is everything.

It could too next week, next year or in 5 years we just don't know.

I'm watching Japan closely and if junk bonds start to head south following commodities that would be a big warning sign

 

Nikkei or Yen?

American Junk Bonds? How do you monitor them?

 

http://finance.yahoo.com/echarts?s=...n;ohlcvalues=0;logscale=off;source=undefined;