Gleno, now I am even more mystified..... the FED is pumping money into the stock market? Is that what he is saying?
That part I don't get at all, and I am very skeptical. I'd like to know something about his information sources. But maybe I just misinterpret what you mean....
Now, program trading, that's different. Personally, I think that's one of the major drivers of market trends. As you probably know, the NYSE publishes statistics on that. Not sure about the Naz, but on the big board, program trading accounts for anywhere from half to two-thirds of all trading volume of a given day.
You would think that such a huge market influence would attract a lot of attention, far more attention that what Bernanke belches before Congress for sure. But just try Googling "program trading" and see how little you come up with!
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