It cannot be denied that this mess looks bullish technically. But the real test will come after we get a correction and are able to see its nature and at what levels the market attempts to gain support.Can a whole lot of bad policy float a cyclical bull market? Well, it did in 2003 and it can do so again. Except of course this time any new bull will be attended by exponentially higher moral hazards making Greenspan look quaint by comparison.
Okay, back to Full Tout '09.
