Machine Heads North

Kicking the bull when he is down has resulted in an unprecedented attack on the bears in order to protect the asset classes. The stupid down mentioned in a previous post had become a fear spiral, knocking out the legs of any confidence in the markets which is essential for the orderly daily conduct of business, bull or bear. Measures being taken by the Fed, Treasury, and Congress will certainly be overkill but that is the game played when constituents are to be pleased. There will be a tremendous amount of scrambling and sorting through stock values from these low levels which will lead to buy and or cover first and ask about value later as a result of this historic intervention by the G.