So much for a quiet session; the market is grinding along higher hour by hour. The S&P 500 has surpassed 1220 (it was near 1173 two days ago) and has its eyes on the yearly high . When you see this sort of buying ahead of a supposedly important economic report, you know market participants are feeling bulletproof. In a normal market I'd say having this sort of run ahead of much anticipated news, would lead for a potential for a sell the news reaction tomorrow no matter how good the report is (after the initial spike). But this has not been a normal market in a long time.
(actual high of year is 1227.08 not the ~1225 mentioned earlier)
My relative performance versus the Russell 1000 the past 4 weeks was tremendous 48 hours ago... darn market has made up a lot of ground in 2 sessions.
Thursday, December 2, 2010
Might Not Wait for Friday to Make a Run to Year Highs
Best Of FMMF
- 1: Warren Buffet Piles on Europe
- 2: [Video] Jim Chanos Returns from Europe, Even More Bearish on China
- 3: A Chart to Open Our Eyes - Staggering Changes by Multinationals in Employment Behavior 00s vs 90s
- 4: Futures Blasted on Dexia Woes... and Poor Preliminary China Data
- 5: Market Working to Worst Thanksgiving Since 1932
- 6: Et Tu, German Bonds? Poor Auction Raises Eyebrows