Well, TPTB or the what I call the Power Elite are orchestrating nicely their political game plan.
Let's see. No bad news. Only good news, most of which comes from TPTB controlled methods such as BLS stats and the reality that after 4 years of down economy less people are laid off weekly and many more are now no longer part of any official reporting mechanism since they do not receive checks nor are eligible to re-apply.
The TPTB has had their PPT machine keep enough goose going every single time the market evens thinks about blipping. This is picking up the fund managers who now MUST buy those longs.
I obviously sold my longs too early relative to market top of 1350 and fortunately was very mild on initiating my shorts or sold calls.
Since I am still 30,000 shares long and 3000 short, I obviously benefit every day the PPT maintenance act keeps things up, particularly where my underwater longs are concerned.
This mickey mouse bs is flat out contrived to insure obama stays and the only way to do that is to manufacture the view that happy days are here again.
TPTB tried the same thing with Carter in the spring/summer of '80 and Reagan knocked him off; however, the demographics have changed and so has the voting machine and the two combined with the rock solid market PPT manipulation insure that the bill of rights will be permanently trampled over the next four years.
The health care act was a congressional travesty designed to compel "citizens" to do whatever TPTB wants them to do and all of this market mickey mouse is nothing but geared toward the larger political aims; when the piper is paid for the wanton destruction of our global financial system, the top does fine and the bottom gets the shaft.
I am a huge bull for equities and know that this current yankup is positioned to achieve a high enough level that when the reset kick in the teeth comes later this month or early march, the market will only slide back to around the 'correction' point of say 1295 and then off to the races of 1450 for july/august.
And while I remain totally convinced that 2013 will be a short's paradise, it is important to recognize that the Elite, both the political side and the trading side, can coordinate near magical levitation until they want crisis for their own distinct reasons.
Look where the PPT is yanking up on. AAPL to 500???, I mean these guys are real thieves.
Ripping UTX back up to 84??, I mean, check out the bulk of reality. It is resisting the yankup. BA, DE, IBM, AA, FCX, no now the elite is yanking the oil string in order to maintain this farce for another week or so.
Nudge the DJIA to just south of 13,000 and the SnP500 to the level I thought earlier possible and then discounted of 1360, then bang.
The Dow will go no lower than 12,500 or so and the SnP500 to say 1302, maybe intraday breaking 1300. Two or three staircase steps down before it gets there and then the mid march Fed meeting ices the cake.
Heck, we may see BLS stats of unemployment starting with a "6" by summer and the giddiness could easily reach the alltime of 1500.
I cannot wait.