Leave It To The British To Bring Reality Back In Focus

Finally! Someone is talking about what is truly rallying this ponzy scheme stock market.

www.ft.com/cms/s/0/0617992c-93fe-11de-9c57-00144feabdc0.html?nclick_check=1"

Its all short covering on very low volume.

"Analysts say short sellers have been closing many of their positions in recent weeks. Short interest as a percentage of S&P 500 stocks fell to its lowest level in eight months by mid-August, according to the most recent data. Bespoke Investment Group said average short interest in other major equity indices had fallen to the lowest levels since at least October 2007."

"Closing short positions has been particularly difficult recently because of low summer volumes. At the same time, trading - which is now dominated by rapid-fire computer systems - has become fragmented across exchanges and various electronic platforms. The result has been agony for short sellers of stock such as AIG, who have been squeezed, in the market place, as they try to buy shares to close their positions. AIG shares has soared 260 per cent since early August."

Thank You Financial Times for having a clue.
The NY Times, and BW can go back to fundamentally analyzing why AIG goes up every day.