First off, despite all of the congratulatory backslapping over Buy the Fake Dow (BTFD) at all time highs, under the surface, active traders got systematically obliterated this year, which I showed recently via the hedge fund tracking ETF:
Conflict of redemption. Visualized:
Meanwhile, SillyCon Valley is shitting bricks right now...
Here we see IPO proceeds by year (Current year is year to date through 11/28):
http://www.renaissancecapital.com/ipohome/press/ipovolume.aspx
Here we see retail broker Schwab with the IPO mutual fund...
"Aw fuck, not this again!!!"
Yes, this IPO Mutual Fund
Here we see Rydex Bearish asset level with the fake Dow...
Momentum is the ONLY THING that matters right now to stock gamblers...
Value Line’s benchmark hasn’t been setting records this month, even as the S&P, Dow and other better-known indexes have been leaping to new highs. It is instead continuing to wrestle with milestones from the late 1990s...
"That implies the rally for U.S. stocks has room to run."
Let's see, the average stock is not participating in this rally, which either means that the rally has room to run, or everything about this rally is totally fake, especially the people who HAVE TO believe in it. Choose carefully...
