[BRIEFING.COM] So much for the bears trying to have their overbought argument heard as a renewed wave of buying interest sends sellers running for cover. The broad-based nature of the market's recent spike higher amid a surge in volume suggests that program trading is likely behind the move as well. The Dow is rallying even further into unchartered territory as traders trained to view every dip as a buying opportunity use this morning's pullback as a springboard to jump back into nearly everything and anything.
Wow just a normal day in the land of perfect, were the Dow rises every day, what are we at like 35 out of 37 up day?
I don't mind that it goes up everday. As long as the range is there I'm happy like a pig in shit. The currency situation is giving the Dow a tailwind.
I lost count after 23 for 27, I know there has been around 5 down days in over 30 trading days. Tonight i think is the 44th record high. I look it up after the close and reply back.
"its not healthy" Not healthy for who? The same people who have been short all the way up, that's who.
From the WSJ: "The path of least resistance continues to be 'up,'" said Bill Nichols, trader at Bear Stearns. "There's still a lot of worry out there," he continued, "but right now, negative sentiment is losing out to money being put to workââ¬Â¦. The money has not been made by betting against this market."