Markets Going Up for Absolutely No Reason: Horwitz

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July 15 (Bloomberg) -- Todd Horwitz of Averagejoeoptions.com discusses why he finds the markets to be in lunacy with no real reason for them to climb. He speaks on Bloomberg Television's "In The Loop."

I am saying that the trade is lunacy and the irrational exuberance is very characteristic of 2008, 1999, 1987. we are going up for absolutely no reason.

The news does not support what is going on.

Look at stocks like ibm, ups, and intel.

They're not participating.

Those are key bellwethers that should be putting up a warning to all investors then maybe you should slow down, that we are going up on lunacy.

As cosmo kramer said from seinfeld, it is to be -- kooky talk.

Do people really think there's any question left about whether the fed starts to taper in september?

The fed continues to stay involved.

That is why we're going up.

We're creating another bubble here.

I think what is happening with the fed is they realize they cannot taper that quake and they cannot get out that fast because they created this monster.

Right now, they are in.

I do not know if it will be september or january, but true unemployment is over 16%. the economic data has not been good enough to support the move.

We keep having to lower company- expected earnings.

Thank you for joining us.

Todd horwitz.

This text has been automatically generated. It may not be 100% accurate.

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