13 OCT 2010, Wednesday (AM)

• This market is relentless...won't even take a breath.  Like the MAR to APR run...no ebb and flow.
• I guess it proves that the Feds can buy a stock market rally with their POMO cash.  And if that's the case, why don't they do it all the time?  Heck, we'd all be rich and wouldn't need to worry about unemployment any more...right?
• Besides, the economy is on the verge of roaring back and the housing market has really healed and is ready to go on its own tear again anyday...right?
• This whole monster rally from MAR 09 has been an amazing move.  It was released once Congress bludgeoned the Financial Accounting and Standards Board (FASB...they make the accounting rules) and the FEDs started pouring "fuel" into the banks.  History...After the Enron mess, FASB moved to require mark to market accounting in order to prevent blow-ups of that sort.  In MAR 09, those rules were suspended and mark to model was enabled.  So, we're in a spot where Enron potential exists all over the place in our banking system.  Doesn't mean there has to be a blow up.  But the question is why would you even tolerate the possibility of 2008 again???
• I'm sorry for the sarcasm.  None of this makes any sense to me.  I suspect I'm not the only one.