Delivering Up

Today's sharply higher opening reminds me of the first trading day of 2000.  Markets exploded on the upside as investors tried to get in on what was thought to be another year of up.  It would of coarse ultimately represent a market beginning to hit severe stall speed.  That year turned into crap as the market players scrambled to adjust to the downside momentum of the bubble burst. And while no two markets are the same, it seems impossible to believe in whatever perception of good which may have seemed to have been delivered by the Fed, Treasury, or Congress is for any other reason but to continually perpetuate a notion that in seeking returns, price is a proxy for value.  It is an approach where all values are put at risk.