Global:Markets Up But Why?Mutual fund manager's are trying very hard to improve the Oct 31st month end portfolio NAV....I am in complete agreement with the sentiments expressed by Jesse: Even in a "Market Meltdown" and a "OnceInALifetime Financial Panic...."...the Other People's Money (OPM) managers can still find time to paint the tape into the end of month. When this coat dries, they *might* try to slip on one more layer of paint before the weekend, but if we break to the downside we would look for a complete retrace of this rally to retest the lows. Why? Because it is based solely on speculation, market manipulation and experimentation by the Fed and Treasury. It is not based on anything organic to the economy, neither reform nor restructuring.Wall Street corruption is one of the biggest impediments to an economic recovery. It has become an inefficient obstacle to capital allocation, price discovery, and real economic growth.The US financial system represents a general sys temic risk to the rest of the world because of the manipulation of the US dollar as reserve currency to serve the short term secular interests of a small but powerful financial eliteLee's DhabaThe content on this mail is provided as general information only and should not be taken as investment advice. All site content, including advertisements, shall not be construed as a recommendation to buy or sell any security or financial instrument, or to participate in any particular trading or investment strategy. The ideas expressed on this site are solely the opinions of the author(s) and do not necessarily represent the opinions of sponsors or firms affiliated with the author(s). The author may or may not have a position in any company or advertiser referenced above. Any action that you take as a result of information, analysis, or advertisement on this site is ultimately your responsibility. Consult your investment adviser before making any investment decisions.
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