The large dissimilarity of the current run up to the April high
is that the Fed was not engaged in massive QE/PoMO in
April. Remember we have a constant luquidity pump
into humongous bank and broker (and their trading computers).
$20b a week for the next 8 months while the QE-Lite that has
generated the bulk of this rally is only $6B/wk.
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this is intuitive and one should consider.
SPX
Posted by rreich on 10th of Nov 2010 at 09:54 am
The large dissimilarity of the current run up to the April high is that the Fed was not engaged in massive QE/PoMO in April. Remember we have a constant luquidity pump into humongous bank and broker (and their trading computers). $20b a week for the next 8 months while the QE-Lite that has generated the bulk of this rally is only $6B/wk.