The S&P is up 42% since the low. What is the record for largest market gain in 3 months without a retest of the low. Downside risks are becoming quite large.
Yes. I felt it too. It was a disturbance in the force. The evil empire is poised for a shotgun style 200-point rally in the final minutes. I wonder whose turn it is to gun SPY the last hour of trading? JPM? Or maybe MS will swap IWM for SPY this week so it doesn't look so damn obvious.
Transports down double the industrials in percentage, and they didn't confirm the new high in the industrials.
With joblessness rising, the president said he was "deeply concerned" about unemployment and conceded that too many families are worried about "whether they will be next." Still, he said that since he took office almost six months ago "we have successfully stabilized the financial markets," and "started to see some stabilization on housing." (YOU ARE SEEING WHAT IN THE HOUSING MARKET?) "But what we are still seeing is too many jobs lost," said Obama, commenting after new government figures showed the unemployment rate had risen to 9.5 percent last month. (NO KIDDING) Since Obama signed the $780 billion economic stimulus bill in February, the economy has shed more than 2 million jobs. (OUCH) Asked if he was resigned to Iran's possession of nuclear weapons, he said, "I'm not reconciled with that, and I don't think the international community is reconciled with that." (ANOTHER BRILLIANT STATEMENT) In his comments on the Supreme Court case, Obama said the 5-4 ruling was written narrowly, and "didn't close the door to affirmative action" to help minorities. Obama, a former teacher of constitutional law, said of affirmative action, "It hasn't been as potent a force for racial progress as advocates will claim and it hasn't been as bad on white students seeking admissions or seeking a job as its critics say." On other topics: ⢠He said Michael Jackson was "one of our greatest entertainers" and "I still have all his stuff on my iPod." But he said Jackson's life had been tragic and in many ways sad. (I'LL SAY) ⢠The president spoke enthusiastically of the White House pastry chef. "Whatever kind of pie you want, he will make it," Obama said, adding ruefully that that was a problem for him and wife Michelle in regard to their weight. (WELL I'M GLAD HE HAS A GOOD PASTRY CHEF.) ⢠Asked whether he was a bigger fan of Kobe Bryant or Michael Jordan, one the reigning MVP of the National Basketball Association and the other a retired superstar, the basketball-playing president said without hesitation: "Michael. I haven't seen anybody match up with Jordan yet." (I HAVE TO AGREE WITH THAT.)
Amazing! America really is too dumb to be allowed to vote anymore. Case in point, oDUMBa, and the worst House and Senate I have ever seen. It's like a nightmare. Literally!