In the recent run-up, there was talk of the infallibility of equities.  This led to a higher level of variable compensation in the economy through option and share issuance and low pressure to raise fixed wages.  This was yet another form of hidden leverage, which hid the unprofitability of enterprises through share dilution.

They are good for a speculative trade, but dumb money has arrived.  Be ready to sell when the momentum fails.

There have been a lot of articles dealing with use of corporate free cash flow lately

Good Morning,

You may be asking what "IT" is. "IT" is a few things.

One "it" would be volatility. The longer that governments stay involved in the markets, the longer volatility will stay at the lower end. There may be spikes here and ther, but overall, if equities stay bullish to neutral, there is no way the VIX can rise and there is no way that there will be intraday opportunities like there would be in normal trading markets without government interference....

Fareed Zakaria points us to what may be the shinning star of Europe

The FOMC has spoken and here is what it said

What's brewing in the Futures - Recent Rally in Soybean Prices May be in Jeopardy