Rally

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    It seemed for a minute that reality would bring some semblance of market-pricing to U.S. and global markets, because it's much needed.

    But then central banks stepped in... again. I knew they would.

    No, I'm not surprised that, all around the world, central banks continue to manipulate market-moving pawns across a chess board. And by pawns I don't mean economies, I mean equity market prices for banks, bank debt, and sovereign debt.

    What is surprising is how blatant central bankers are becoming about the manipulation.

    Under these conditions, the market - let's call it the "Extend and Pretend Market" - has some big opportunities and some pitfalls for investors.

    So let's have a look at what's in store...

Article Index

Why This Rally Reminds Me of 2008

It seemed for a minute that reality would bring some semblance of market-pricing to U.S. and global markets, because it's much needed.

But then central banks stepped in... again. I knew they would.

No, I'm not surprised that, all around the world, central banks continue to manipulate market-moving pawns across a chess board. And by pawns I don't mean economies, I mean equity market prices for banks, bank debt, and sovereign debt.

What is surprising is how blatant central bankers are becoming about the manipulation.

Under these conditions, the market - let's call it the "Extend and Pretend Market" - has some big opportunities and some pitfalls for investors.

So let's have a look at what's in store...

U.S. Stocks Reach a Pivotal Point as Goldman Sachs Predicts a 2011 Rally

Stocks clicked around the flat line much of the past week until the tumblers of the lock finally fell into place and prices were freed to go higher on Thursday and Friday.

The Standard & Poor's 500 Index quietly gained 1.2% over the week to close at a new two-year high, while the Nasdaq Composite Index rose 1.7% to a three-year high and the Russell 2000 small-caps rose 2.7%.

To find out what direction stocks are headed, read on...