I had this on my Facebook page last week after the jobs report.
A quote from Charles Payne (from Fox Business – one of my favorite commentators)
“Today’s jobs report is so awful its got traders giddy about the prospects of an avalanche of cash coming into the system (think QE2).”
Today, the Fed indicated that more easing is on the way in the short term. And stocks went up again. So far, it is a muted reaction. Perhaps all of this was already priced in days ago (as in last week) and this is just a little diversion on an otherwise boring day.
Whatever it is, the piper is running up a mighty big bill.
