Dumb Money" Refuses To Be The Dumb Money For Yet Another Week

http://www.zerohedge.com/news/dumb-money-refuses-be-dumb-money-yet-another-week

Submitted by Tyler Durden on 03/21/2012 16:17 -0400

Goldman screams it is a generational buy, Larry Fink goes all in stocks, Notorious BIGGS is 90% long, anchors on comedy-financial fusion channels are channeling the producer in their earpiece and screaming at the teleprompter to "sell bonds and buy stocks", even as stocks are at their highest in nearly 5 years and... what happens? In the latest week, ICI just reported that domestic equity retail funds just saw another $2.9 billion outflow, the 4th consecutive in a row, and the 23 of out 27 outflows during the entire parabolic blow off top phase the market has undergone since October, and instead put another $9 billion in fixed income funds "soaring" yields be damned. What does this mean? Probably that the stock ramp is about to get uber-parabolic for the simple reason that this is the only thing left in the status quo's arsenal - to keep doing the same old same old, hoping for a different outcome, because this time it's different. Only this time the dumb money either doesn't have the cash to burn, or just doesn't want to participate in a rigged, corrupt, centrally-planned market. Whatever the case, the Primary Dealers and the Fed will just have to keep hoping more central banks pull a Bank of Israel and sell the hot grenade axes to them, since Joe Sixpack is done being the "dumb money."

Something worth Noting

3/6/12
U.S. Will Act to Prevent Iran from Developing Nuclear Weapons, Panetta Says


“He (Obama) has ordered U.S. warships to pass through the Strait of Hormuz despite the threats we have received from Iran,” the secretary said. “He has been the driving force behind the most successful and lethal counterterrorism campaign in U.S. history, culminating in the bold decision to send U.S. special operations forces hundreds of miles into Pakistan to take down Bin Laden.”

Panetta said the president has shown he is willing to do whatever is necessary to protect the United States, its allies and its interests, and Iranian leaders should not doubt his determination.
“Military action is the last alternative when all else fails,” Panetta said. “But make no mistake, when all else fails, we will act.”