Same Cliff Different Day
December 28, 2012 - 7:08am
We could say that news is actually relevant or matters in this "market" but we would be lying, just as we would be lying if we said that this market has not become painfully predictable, with yesterday's late day market surge - on yet another ridiculous catalyst - visible from so far away, it was almost painful to watch it take place in real time. Sure enough, futures are now sliding back, and giving back much of yesterday's gains - but don't worry, in a day full of even more meetings and flashing red headlines, at least some combination of carefully phrased MSM words will set off today's algo-driven buying frenzy, guaranteeing yet another "retail investor" decides they have had it with this farcical "free market" casino for ever. There was actual news out of Europe, where Italy sold 5 and 10 year bonds in the first underwhelming auction in months, placing just €5.88 billion of a maxi...
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