So what's going on?
Same thing that has been going on. People chasing stocks. Bidding up the market because there's an "underlying bid." Bad news = stock goes up. Horrible news = stock goes down a bit. Great news = moon shot!
Just one example I opined on a week or so ago - AMD. Here's a company that had an earnings report that suggested that, if current trends continue for a few more quarters they might actually go out of business! Now they didn't actually say that, but that's what the numbers say.
So what happened? They said they were looking at "strategic alternatives" and boom - what was a certain haircut was erased in the market.
On the basis of what? A bid for the company? No. Not even discussions at this point.
Guys, its been a hell of a run. But we're within a hairbreadth of statistics on number of days with a positive close, and a few others, that were last seen in........ 1929.
Then we have my Canary...... and he's cowering beneath an oxygen mask, trying to keep away from the Cat.
And it appears that the Cat - or is it a Bear - is hungry.
Draw your own conclusions.
Where We Are, Where We're Heading (2013) - The annual 2013 Ticker
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