Another dot to be connected

Comment:

The increasingly bubbly stock market, as indicated in this article, is yet another manifestation of social control that is being orchestrated by this administration.  The rising stock market keeps people fat, dumb, and happy.  While everybody gets complacent, the Obamabots are increasing their control bit by bit.  If the people can be kept complacent long enough, and the opposition can be kept quiet long enough, it will pass the event horizon and there will be no going back.

Published on Zero Hedge (http://www.zerohedge.com)

Home > Late Ramp Pushes S&P To Close At Now Standard All Time High

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Late Ramp Pushes S&P To Close At Now Standard All Time High

By Tyler Durden

Created 05/14/2013 - 16:17

Thanks to POMO (and the simple explanation of what everyone already knows from David Tepper), the 18th Tuesday in a row has closed with a bright green shade across the screen. Trannies gained 2% but the 25 point gain off overnight lows for the S&P 500 is the most impressive... with gains sustained by more short covering. As predicted first thing today, when we said the S&P 500 EPS multiple will increase by at least 0.15x on the back of POMO, we were not surprised to see the closing print result in precisely this amount of multiple expansion:

Today's POMO: $2.75 - $3.50 billion. Should be enough to expand S&P multiples by 0.15-25x
— zerohedge (@zerohedge) May 14, 2013 [1]

A QE-unwind theme was modestly evident in other asset-classes: Treasuries (snapping higher after EU Close); Oil, gold, and silver all down; and credit spreads notably rolled over. But of course, equities don't care; why would they?

• Exchange Traded Fund
• POMO
• POMO

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Source URL: http://www.zerohedge.com/news/2013-05-14/late-ramp-pushes-sp-close-now-standard-all-time-high

Links:
[1] https://twitter.com/zerohedge/status/334305878595473408