Over the past seven hellish months, every reason imaginable has been offered about why the market will continue higher in the short-term. As a time-saver, I've composed this little guide. Feel free to mention any I've forgotten.
- It's options expiration week. Market makers will hit their price pegs.
- It's a full moon (I am not making this one up).
- The dollar has no reason to climb, and as long as it falls, equities will rise.
- Goldman needs to push the market higher.
- Obama needs to push the market higher.
- The hedge fund year ends October 31, so hedgies want to drive prices up into that date (this reason is temporarily expired).
- Retail hasn't even come into the market yet. That will really get things going.
- Precious metals are in a secular bull market, and that will keep lifting assets.
- There is no limit to how much money the Fed can or will print.
- The recession is over.
- Warren Buffett, the world's greatest investor, is bullish on the stock market. Just look at his purchase of BNI.
- The government won't ever let the stock market go down again, now that they know the power they have and how to use it.
What else?
