Txrefugee is right.
Brokers these days make money by TRADING, not by making investments.
And since the public has been trained to think that UP in the market is always good news, young money-hungry traders have a vested psychological interest is selling up.
Then they sell off and take a bit of profit, then sell up again. It’s not entirely unlike realtors in the bad old days flipping properties, the proceeds of which were based on speculative prospects and upselling too.
The traders especially can make trades (thus money) on mostly bogus “good news” like the latest European Union popinjay promising “great resolve” in addressing the Euro debt crisis, or our own Federal Reserve planning to print and spend more money in the bond markets, etc., supposedly “easing” the cost of credit and investment (while really only debasing our currency and increasing the likelihood of an eventual financial panic and crash).
Party on! is the motto of the stock market and the people who sell it. They (and we) can all deal with the hangover later...or perhaps sooner.
Sounds right