Any Which Way

The heads are putting their spin on data for the final quarter. The argument over the real amount liquidity the Fed is providing is making guys like Gross of Pimco jaw about treacherous banking conditions. Ever since the rate cut the treasury futures have been heading south. Gross needs continued Fed easing for his current positions to work. John Hussman of Hussman Funds explains that the Fed has added virtually no reserves. Maybe that is why Gross is worried.
The miraculous recovery of the stock markets have allowed them to catch-up to the market performance of models known to consistently out perform the indexes. Hedge funds are piling in and buying from willing sellers who only a month ago thought they had missed their chance to get out at a decent price. These markets are running on upside energy and while that will of coarse end badly, it makes it more interesting for traders. We all want to be short when it fails, but the upside idiocy creates great opportunities daily to trade both sides.