Stocks continued their move higher today as the SP regained the ground it had given up from the end of year tape painting, closing around the record high it set in December.
VIX has fallen back to relatively complacent levels. The economic news is just peachy.
The Fed is completely culpable for the bubble in financial assets, along with the compliant regulatory climate under Obama and his Wall Street friendly Congress. This will not end well, but there is no telling when it will end, so be careful about fighting the monied interests with money by shorting the market.
I hold no short positions here, except for longs in precious metals, which in some ways are a short on the appearance of recovery versus the reality of financial malpractice and policy errors.
Have a pleasant evening.
