Ever feel like since the Federal Reserve et al took over the stock “market” trading has no longer made any sense? You are not alone. Here is BofA’s Michael Hartnett explaining why thanks to $22 trillion in central bank artificial support for stocks, “the wacky has become the norm.”
The Cuckoo’s Nest
Investors have experienced many mood swings, some institutionalized irrationality, as well as treacherous trading conditions in the first six months of 2015. The wacky has become the norm. To wit: