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A Weary Bear Starts to Hallucinate

|Includes: SPDR Dow Jones Industrial Average ETF (DIA), QQQ, SPY

There is an interesting article at Rick Ackerman's site called A Weary Bear Starts to Hallucinate.  Go check it out here:  http://www.biiwii.com/analysis.htm (2nd one down).

The tone is one of resignation and defeat to powerful market managers (like Bullard & Yellen mentioned in the 'Just the Facts' post).  Except that Bullard and Yellen have evidently been given the high sign to get out there and play bad cop to keep the herd - getting more concerned about inflation as asset prices rise - placated.  

From the article:

"Or is there something much bigger in store: a Megabull market engineered by the Fed and Wall Street that will run for years?"

This is the kind of resignation that the bears are brought to at times of great stress.  It also makes one wonder when the last bear will throw in the towel, because when he does the markets are going to be very dangerous.  I do not believe that the macro managers have the power that many ascribe to them.



Disclosure: No positions mentioned