Stocks just want to go higher, and it doesn’t matter if the Fed is going to peel back quantitative easing, or if GDP growth in the second quarter is going to be a pathetic 1%. Buyers just keep buying, and that means stocks have recovered all of what they lost during the “taper” scare in June.
In fact, the resilience of this bull market reminds me a lot of a viral YouTube video about a honey badger. In the video, the narrator describes the tenacity and devil-may-care-attitude possessed by the pugnacious and fearless honey badger with the constant refrain that, “Honey badger don’t care, honey badger don’t give a s**t.”
Well, so far in 2013, the bulls are just taking their cue from the honey badger — and that means they don’t care about what’s happening around them; they are going to bid stocks higher.
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