Everyone needs a rally this fall. Everyone.
They’re making it happen. They’ll tolerate no distractions. Lukewarm data points will be treated as positive data points and positive data points will be received orgasmically. Negative stuff will be tossed over the market’s shoulder and dismissed as “priced in already”. Watch the shift in psychology – “just give me a reason to buy, man, just give me a reason.”
MarketWatch is reporting the 900th non-news piece of news out of Europe this morning…
A weekend meeting of finance ministers from the Group of 20 industrialized and developing nations in Paris saw international pressure heaped on European leaders to finalize a definitive plan when they gather in Brussels for a summit meeting on Sunday…
Past experience offers little reason to think “European policy makers [will] deliver more than expected and thus get ahead of the curve,” wrote strategists at KBC Markets in Brussels….
Hopes that European officials will deliver a comprehensive solution to the crisis next weekend helped lift European equities and propelled Asian equities to a higher close.
My god do they want this to happen, from Beijing to Brussels to Bay Street to the Big Apple. If they can contain Europe and China can sweep enough under the rug for now, they just might be able to keep those balls in the air. They just may be able to hold that seasonally traditional Race for the Roses this fall after all.