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RANsquawk US Afternoon Briefing - Stocks, Bonds, FX etc. – 05/01/12
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WTH just happened on the market. Ten minutes ago all graphs were doing their own thing, five minutes ago they all surge on what??
THE FED....... it's what they do daily! 100% correlation since March 2009.
My guess is that European traders foolishly believed that U.S. markets would sell off hard on all the bad Euro news and went short heavily. When it was time to go home and we hadn't sold off too much...short squeeze time.
Europe closed, time to throw those US equity levers hard forward!
All just fake, its what tyranny looks like.
What is going on with BAC today, up over 4%?
4% on 5 bucks isn't much