WTF Headline Of The Day

Summing up everything in this farcical stock 'market' perfectly, MarketWatch unleashes the following headline…

As they explain…

There is a feeling of “how I stopped worrying and learned to love central banks” in the latest take from Zor Capital’s Joe Fahmy.

Fahmy — who three months ago called for the Dow to hit 20,000 this year — reiterates that he thinks that level is “a real possibility.”

Many smart investors have made bearish market calls, but they are too early because the Fed is on the market’s side and not raising rates anytime soon, Fahmy says.

“As they say, ‘don’t fight the Fed,’ so good luck fighting all the globally coordinated Feds,” he writes. That refers to the world’s big central banks all working together.

The market could be showing resilience in anticipation of a more business-friendly president, and watch for a “chase trade” if the S&P breaks out to a record high, Fahmy says.

“This is when under-invested and bearish fund managers are forced to put money to work so they don’t risk losing their jobs,” he writes.

Please note that at no time was there any discussion of record low bond yields, plunging earnings, collapsing European financials, or election uncertainties… because none of that matters – until it does…