Will the market send a message to pres. Bush tomorrow? Russell already completed a 4% pullback. Do the DOW & S&P have to follow? Neg divergence in advance decline today on the Nasdaq, it just seems to me 2500 on the Nasdog> the 1/2 retracement of the great fall, is going to be very tough to get through. Earnings remain stubbornly high though, we're back to 10% folks! PE's are EXPANDING, the available stock is SHRINKING, it's a recipe for upside no doubt. One annoying aspect of recent days is a sag and reflate market> one that keeps coming back from big declines but never goes anywhere. That sucks buy on the dippers in before eventually crushing them. It also creates tops. That's kind of what the market feels like to me now... that being said, however, lower energy costs are going to translate real nice to forward guidance by the big boys.... Sign Me Confused.
market higher again, BUY buy buy.... this should prop up all international indices tonight without a problem. ^n225 and hang seng should easily add 250-400 tonight. Rally is back in 12500+ and nasdaq 2575+ here we come. Dont let me down now.....long QLD since $82.50..
Word from the pits is that there's a big asset allocation shift into stocks from bonds from overseas investors. Wonder what that implies for the dollar? Stocks should go UP!