“As for the notion that the Fed’s targeted Treasury purchases have directly aided the economy, the argument requires bizarre logical gymnastics. It demands one to believe that although the purchases were intended to stimulate the economy by lowering rates, they have been successful without lowering them, and in fact by raising them, because the expectation of lower rates was so stimulative that it caused rates to rise, so that the higher rates can be taken as evidence that lowering rates without lowering them was a success. Oh, brother.”
All of these bearish thoughts ring true with me, but the views in those articles sure are hard to codify into a rigid systematic trading approach. A quiz to consider about ‘thinking’ may prove insightful (shout to Ritholtz.com for tip).