Today is proof that the Algo/Igor/Robo computer trading programs have run amok. While Wall St. engages in bear raids against foreign countries, panicked algos are triggering wild squeezes everywhere, causing lots of head scratching among the pundits trying to explain these insane moves. Proof that the worse the Greece situation gets, the retail stocks simply go up faster.
Here is a sample of the moonshots today:
And, of course, the REITs remain the predominant "safe haven" plays whenever entire continents are engulfed in volcanic ash, drilling platforms sink, or when entire countries are on the brink of bankruptcy:
And during this chaos, the dollar rallies, bond yields remain pinned near 40-year lows, and our foreign debt enablers continue to lap up our bonds month in, month out.
Its all part of the well-greased Perpetual Motion "hope machine" created by Bernanke, Geithner, LLP, soon to be awarded the Nobel Prize for Physics for defying gravity.
I know, its all getting very tiring, but the "Wash, Rinse, Repeat" cycles continue and once something is in motion it tends to stay in motion.
How far does it go??? Nobody knows.
Next up after the bell: