Not a surprise to EPJ Daily Alert readers. From the first letter of 2013:
The real story, as the Alert has been hammering away at, is the Bernanke money printing. As long as it continues, and there is no end in sight. Stocks, housing and commodities will be climbing higher.This is from the December 21, 2012 EPJ Daily Alert:
BUYING OPPORTUNITYNOTE: 13-week annualized money supply growth is even higher now. Subscribe to the Alert, to find out just how much money Bernanke is pumping into the economy now and what it means.
The market is selling off this morning on news of House Speaker John
Boehner's failure to get enough votes to pass his "Plan B" budget
plan, but that's not the only thing that may make this a wild session.
Today is a quadruple witching day.
Quadruple witching happens when three related classes of options and
futures contracts expire, along with the individual stock futures
options. This occurs on the third Friday of every March, June,
September, and December. This can add to the volatility.
Consider down side action as a buying opportunity, The major influence
on the market continues to be Fed money printing.
The latest numbers out yesterday continue to show accelerated money
growth (M2 non-seasonally adjusted. Here's the trend on 13-week
5.1% 5.6% 6.6% 7.1% 7.5% 7.8% 8.2%8.4% 8.7% 9.0% 9.3% 9.6%.
This is the driver of the up stock market, up economy and lower
dollar---there are no indications of any reversal in sight.