Peter Grandich was on with us, giving his last interview of 2012. We both agree that the year is for all intents and purposes over. The institutional traders have locked in their profit and therefore their bonuses and what happens from hereon in is really just noise and completely irrelevant. Don’t be surprised to see Da Boyz get in one last smack down for good measure. This is what happens when markets stop serving their price discovery function and start serving primarily political purposes. And it could very well continue until after the inauguration. Appearances, after all, must be maintained at all costs.
You can click over to hear the radio interview.