I see headlines like "Euro, US stocks set to climb on Euro optimism". I see the market react positively to some statement like "we will do whatever it takes to save the Euro".
To me, actions speak louder than words. However, the markets seem to value words quite a bit, sending stocks up just because some guy promises to do "whatever it takes", even though it's been said before and nothing has happened.
Do you think the market is too sensitive?