Thought O' The Day
Is it me or does today's US market action look like the sort of excited gasp that people take when they think they are about to be pleasantly surprised?
Think, for example, of the brief moment of giddy euphoria experienced by a young boy who, upon seeing the presents under the Christmas tree, realizes that the biggest box has his name on it. Or perhaps about the woman in her late 20s or early 30s whose boyfriend of untold months lunges towards the ground while spending an evening out.
Sure these things are most often followed by a fairly predictable course of events... The wrapping paper is torn away to reveal the top item on the list to Santa. Or the boyfriend starts stumbling through an ill-rehearsed sequence of sentences while reaching into his pocket to reveal a velveteen box. And in turn our hero (or heroine) has their brief moment of shocked silence followed by an emotional outburst spurred on by the realization that all will soon be right with the world.
If my hypothesis is correct then we need only ask... What's in the box? And will it vindicate our hero(ine)'s initial reaction?
CNBC seems to think that the ECB is about to proclaim that socialism pares well with capitalism... And following the U.S. example, decide that socialized risk and private reward has a nice ring to it.
Who am I to say what will or will not happen... Given my record to date I'm sure the Bulls are about to be vindicated and we can all ring in 2011 with similar print on the S&P. (yes that was sarcasm I'm not making a wild upside call). But it's in my nature to wonder......
What if Jean Claude Trichet was only about to tie his shoe?