"Stocks are going up for reasons [investors] don't really want to understand," warns Titanium Capital's Philip Manduca. The main reasoning, reflecting on the market's shrug at Portugal's problems is "We have survived so many crises. What is another," but Manduca blasts "It's a cynical approach. The real problem is the guys who have got the dice in their hands keep changing them. They can do whatever they want. They are making new rules all the time." With that background he say there are good reasons for this market to fall and "nothing can make [him] bullish stocks now." While Janet Yellen should "introduce two-way risk" this week, he reminds us that "she is a political appointee... whose job is make sure they stay in power as long as possible." The problem is - US monetary policy is the world's lowest common denominator and has consequences...
