Stock market continues to the upside. Low volume low volatility adds to the creepy conditions as the hum of the walking has set into the daily action. Like being trapped in a room where the ceiling and wall are moving in, mindless equity positions pile onto the already living dead who entered these markets long ago. There is no cure for the Zombie Long. A federal reserve marches to accommodate soft metrics for the larger economy but only sparks the equity balance sheets of a tiny percentage of the country. Yellen, like Bernancke, unwilling to admit their complicity in enriching the elite, for who else would they dine with. A weekend reading of Tim Geitner's self serving book is really an insight into his success in producing obscene entitlements for high corporate standers while the rest of America was left without upside.
The Zombie Longs are suckers for the top. Unable to turn around quickly they are the foils for any downside event. They will keep on coming no matter what happens.
