T/A ETF AND INDEX

[capt_jmj]

This is the net result of the $1.5T+ in Fed fiat money that was pumped into the markets by the likes of Goldman Sachs beginning in early July which is a very effective way to get the herd moving in the direction you want them to go (the NDX has moved up ~ 270 pts). They are hoping that enough have drunk the Kool-Aid that by the time the Fed has to turn off the spigot, sufficient dumb money will be coming into the market to keep it afloat, and if this week is any indication, it seems to be working. Of course, 3Q earnings, unless they are cooked again, may be the wake-up call that the emperor really has no clothes, and don't forget the "other shoe" of commercial real estate that is yet to drop. Meredith Whitney, who I would not bet against, says housing prices have another 25% to fall.