As a money manager myself (not with a big firm - and one who didn't vote for this clown) the thing driving the market is liquidity. There is so much cash on the sideline that some of it coming into the market is what is driving this.
Amazingly, far more money has gone into corporate bonds in the last few months than into US stock funds.
A second reason: you can easily graph the fall in Obama’s ratings versus the Dow. They perfectly correlate inversely.
Charlie Gasparino, for those that watch CNBC, has been almost as negative towards Obama as Rick Santelli. To think he is carrying Goldman's and Morgan's water is laughable. He is critical of them as well, when it is appropriate.
I wasn’t in the stock market... until I saw it crash.
Then I put a big chunk of money in on AIG, Citigroup, and Bank of America.
Why?
‘Cause after the government bailed them out, it *AIN’T* letting them fail... not with that kind of money on the line. The political backlash would be catastrophic.
Maybe they’re using all that stimulus money to stimulate the market until they decide it is time for another crash.
a lot of it has to do with plunging value of the dollar