Yesterday Zerohedge posted this image which it attributes to Citi with the arrow suggesting “You are now here.” While I will leave it to others to debate where precisely on this ring of fire the arrow now belongs I love the picture (and its widespread republication) if only because it so clearly captures the current playbook among money managers today:  Buy when things look grim and policymakers are forced to act and sell when things look better and to quote the chart policymakers "dither." Needless to say after one look at this chart which Barry Ritholtz posted on his ...