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This Is The Most Bullish Moment We Can Recall Since The Financial Crisis Ended
TBI ^ | 9-10-2012 | Joe Weisenthal

Posted on 09/10/2012 8:39:34 AM PDT by blam

This Is The Most Bullish Moment We Can Recall Since The Financial Crisis Ended

Joe Weisenthal
Sep. 10, 2012, 7:57 AM

Markets are down a hair today, but the theme of the morning is clear: Uber-bullishness. Everywhere.

This is the most unanimously bullish moment we can recall since the crisis began.

Note that this comes as U.S. indices are all within a hair of multi-year highs, and the NASDAQ returns to levels not seen since late 2000.

Big macro hedge funds that have been famously flat-footed this year, are now positioned for a continued rally

BofA's Mary Ann Bartels explains how they're going long on the riskiest stuff:

Macros bought the NASDAQ 100 to a net long for the first time since June, continued to buy the S&P 500 and commodities, increased EM & EAFE exposures, sold USD and 10-year Treasuries. In addition, macros reduced large cap preference.

BTIG's Dan Greenhaus wrote last night:

Being Right or Making Money is the title of Ned Davis’ book and the sentiment is as appropriate as ever now. Investors are arguing whether the Fed should or can do anything for unemployment, whether hyper inflation lay just around the corner or whether Ben Bernanke even “understands markets.” In reality, we believe all that matters is whether assets are likely to appreciate or depreciate in the immediate future as a result of the Fed’s actions. We believe “appreciate” is the correct answer.

JPM's Jan Loeys explained that this rally could go on another 3-6 months:

On the back of weak gains in consumer and business spending at mid-year, global IP growth has come to a stand-still. And while things appear to have bottomed with some signals of improvement in consumer spending in July

(snip)

(Excerpt) Read more at businessinsider.com ...


TOPICS: News/Current Events
KEYWORDS: bulls; economy; investing; markets

1 posted on 09/10/2012 8:39:41 AM PDT by blam
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To: blam

?

Aren’t we basically in a depression?


2 posted on 09/10/2012 8:41:39 AM PDT by GeronL (The Right to Life came before the Right to Pursue Happiness)
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To: blam
Happy Days Are Here Again!

Citi Made A Huge Bullish Call On Stocks For 2013

3 posted on 09/10/2012 8:42:56 AM PDT by blam
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To: blam

The crisis ended and I missed it?
Dang.
If they want a crisis, just let Obama be re-elected
and see what happens to the economy.


4 posted on 09/10/2012 8:44:58 AM PDT by tet68 ( " We would not die in that man's company, that fears his fellowship to die with us...." Henry V.)
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To: blam

The financial crisis ended?


5 posted on 09/10/2012 8:45:09 AM PDT by gotribe
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To: blam

China is faltering, Europe is in shreds, the US is about to re-elect a trillion dollar deficit and Israel is stalking Iran. Great time for a stock market rally.


6 posted on 09/10/2012 8:45:58 AM PDT by Oldexpat
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To: blam

China is faltering, Europe is in shreds, the US is about to re-elect a trillion dollar deficit and Israel is stalking Iran. Great time for a stock market rally.


7 posted on 09/10/2012 8:45:58 AM PDT by Oldexpat
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To: blam

China is faltering, Europe is in shreds, the US is about to re-elect a trillion dollar deficit and Israel is stalking Iran. Great time for a stock market rally.


8 posted on 09/10/2012 8:45:58 AM PDT by Oldexpat
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To: blam
I have 40 years experience up until today in small business... we are in a depression and ALL OF THESE COMMUNISTS are trying to get obamao reelected... yes... wall street/corporate America does have a communist division... see robert reichhhhhhhhh for example.

LLS

9 posted on 09/10/2012 8:48:04 AM PDT by LibLieSlayer ("if it looks like you are not gonna make it you gotta get mean, I mean plumb mad-dog mean" J. Wales)
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To: GeronL

When QE3 kicks in, stocks will skyrocket. The reason: inflation of the money supply. Stocks may be worth less, but the dollars in which they are valued will fall even more, making stocks more expensive.

Not to mention precious metals and oil.


10 posted on 09/10/2012 8:50:31 AM PDT by cuban leaf (Were doomed! Details at eleven.)
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To: blam

Volume is off 50% and the markets are churned predominantly by machine algorythms. This is bullish? Who the eff thinks this s*** up???


11 posted on 09/10/2012 8:53:05 AM PDT by Axenolith (Government blows, and that which governs least, blows least...)
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To: blam
To the author of that piece:


12 posted on 09/10/2012 8:54:19 AM PDT by SkyPilot
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To: blam

-—— and the continuing but more medium-term forces of asset reflation-——

I take this to mean that there has been a turnaround in housing prices. I have seen reports of rises but don’t remember if the rise is general or in specific markets.

We will know the change is real when we begin to get reports of rising wages not attributable to striking unions.


13 posted on 09/10/2012 8:59:13 AM PDT by bert ((K.E. N.P. N.C. +12 ..... Present failure and impending death yield irrational action))
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To: cuban leaf

Yep, the stocks soared in Zimbabwe too - for a while


14 posted on 09/10/2012 8:59:44 AM PDT by GeronL (The Right to Life came before the Right to Pursue Happiness)
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To: bert

Lock in your refi, pay it back with “minibucks”...

assuming your wages increase to reflect inflation.


15 posted on 09/10/2012 9:07:20 AM PDT by MrB (The difference between a Humanist and a Satanist - the latter knows whom he's working fors)
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To: LibLieSlayer

And this is the most bullishit news I have seen.

There is no reason for it. As one person posted, no fundamentals support it. None.


16 posted on 09/10/2012 9:11:26 AM PDT by Sequoyah101 (Half the people are below average, they voted for oblabla.)
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To: blam

of course the market will get a bump...

just as it’s had over the last 3+ years.

as you deflate the dollar, things measured in dollars... require more dollars to acquire

duh


17 posted on 09/10/2012 9:21:55 AM PDT by sten (fighting tyranny never goes out of style)
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To: blam

Ended?


18 posted on 09/10/2012 9:27:20 AM PDT by SampleMan (Feral Humans are the refuse of socialism.)
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To: blam
End of the Business Cycle.

DOW 16,000.

Housing always goes up.

19 posted on 09/10/2012 9:37:52 AM PDT by kiryandil (turning Americans into felons, one obnoxious drunk at a time (Zero Tolerance!!!))
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To: Oldexpat
China is faltering, Europe is in shreds, the US is about to re-elect a trillion dollar deficit and Israel is stalking Iran. Great time for a stock market rally.

Who you gonna believe - Obama's media, or your lying eyes?

20 posted on 09/10/2012 9:40:28 AM PDT by kiryandil (turning Americans into felons, one obnoxious drunk at a time (Zero Tolerance!!!))
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To: Sequoyah101

At least we KNOW the truth!

LLS


21 posted on 09/10/2012 9:53:53 AM PDT by LibLieSlayer ("if it looks like you are not gonna make it you gotta get mean, I mean plumb mad-dog mean" J. Wales)
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To: blam
Bullish in the sense that you're in the hospital with multiple broken bones and you have finally convinced Dr. Bernanke to increase your morphine dosage. You aren't going to walk around but you'll feel great every time the button is pressed.

Never mind that your respiration is suppressed and the real doctors are worried that your blood-oxygen level is getting way too low to sustain life.

22 posted on 09/10/2012 9:54:18 AM PDT by KarlInOhio ("Government is the only thing that we all belong to"=implicit repeal of the 13th amendment for all.)
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To: MrB

I did it two years ago. The rise in value pays the interest and the income on the loan value cash invested pays 8%.


23 posted on 09/10/2012 10:06:32 AM PDT by bert ((K.E. N.P. N.C. +12 ..... Present failure and impending death yield irrational action))
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To: GeronL; Travis McGee; Kartographer
Investors are arguing whether the Fed should or can do anything for unemployment, whether hyper inflation lay just around the corner or whether Ben Bernanke even “understands markets.” In reality, we believe all that matters is whether assets are likely to appreciate or depreciate in the immediate future as a result of the Fed’s actions. We believe “appreciate” is the correct answer.

I know you guys realize what's going on, but apparently it's blinding you to what this guy is really saying.

You can argue economic fundamentals all you want, but they have absolutely no bearing whatsoever on capital markets today. Some time in the future? Absolutely. When? Who knows.

The point is, today, in the here-and-now, all that matters is Fed policy. They simply will not back away from their re-inflation attempts, which means the dollar value of any index is going to increase. (That is, real dollar value will depreciate.)

If you want to play the long game, just keep your eyes on the door. What the fed.gov does when this thing comes to an end is the real question.

24 posted on 09/10/2012 10:17:06 AM PDT by semantic
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To: blam
60-day gold price tells me the dollar isn't so healthy (gas pump says the same):


25 posted on 09/10/2012 10:17:57 AM PDT by Atlas Sneezed (Hold My Beer and Watch This!)
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To: tet68

The crisis ended and I missed it?
*************************
The markets will be goosed by new printing ,, that is all ...

Higher taxes in 2013
Obamacare kicks in ..
Europe continues to collapse ... China is probably at the start of a collapse...


26 posted on 09/10/2012 10:31:18 AM PDT by Neidermeyer
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