Wall St's Reflex to Buy, Dismiss Risk

Today, we saw another manifestation of Wall St reflexive "buy the dip" mentality. Stocks had been up most of the night, and throughout the trading day. Only within the past few minutes have we begun to see a sell-off into the close. This is a screen capture of the market as we approach the close, now less than 30 minutes away.

I wouldn't be surprised if we see more buying step in within the last few minutes. Wall St has now become so reflexive in its dismissal of risk, carefully programmed by easy monetary policy from central bankers, that they view all sell-offs as a reflexive opportunity to buy the market and continue to profit from the latest asset bubble.
Ultimately, this dismissiveness of risk will only exacerbate the very risks that are being spontaneously and habitually disregarded. It will only amplify the downside risks when the ineluctable day of reckoning arrives and the music stops, causing all Wall St participants to run in a panic for the few chairs left.

In the time that it took my to dictate the above, this is the reaction of an impulsively bullish response to risk perceived just within the past 24 hours. It is contemptuously and haughtily swept aside in a paroxysm of mindlessly cavalier buying.

Wall St has a worship reflex toward central bankers that borders on granting godship status. But ultimately, it will fail again because in the end, Babylon the Great shall fall. It is unavoidable! It is as certain as that the sun will rise tomorrow!