http://www.businessi...-is-high-2012-8
"The strategists point out that stocks have managed to rally even in spite of one of the worst earnings seasons in years and growth slowing in the U.S. and around the world."
Couldn't agree more. Where the market has priced stocks, and how incredibly steep the drop off in earning's has been, after quite a run, primed by massive QE over the past 3 years, I don't think quadrupling all QE that's been done and injecting it immediately could keep the market propped, let alone go much higher. And guidance has been horrid, and they are usually really over-stating it by now in this part of the recovery cycle. Nobody wants to have their stock whacked....just yet anyway, until they can get out.
That said, there also has never been this much market manipulation EVER, so maybe they can keep that going.
And look at where VIX has been. There's just no way you can call all market participants as anything other than massively complacent.
