Friday, March 15, 2013

Market Masturbation

U.S. Markets Are Partying Alone At New All Time Highs...

The Dow of course gets all of the headlines since it has now eclipsed its 2007 all time high. The S&P 500 is a few points away from its all time high from that same year. So U.S. bulls are once again getting themselves all lubed up. Unfortunately, the rest of the world never joined the party, so this is all just one more big con job for the Idiocratic masses. As we see, most other world markets are nowhere near their all time highs...

The "Good"

If approaching a 13 year old high on the back of unprecedented stimulus, is "good", then that would be the German DAX:

The UK FTSE still below 1999 levels:

The "Bad"

Canadian stocks are stuck at a level they reached 3 years ago:

The Australian All Ordinaries are rising strongly now, but way off of 2007:

The "Ugly"

The Japanese Nikkei has been the strongest market these past three months. You wouldn't know it by looking at this chart. The All Time High was 40,000 set way back in 1990 - 23 years ago...

The Shanghai Composite - No Comment

The "party" is over. The lights are on and everyone in the world is standing around. Yet, Bernankenstein ordered six shots for Wall Street at closing time, so the puking on the street can begin again, any time...