Monday, February 28, 2011

Sweet Monday Mornings

Remarkable isn't it? It has almost become like clockwork - I've never seen a pattern continue like this at a 80%+ type of success rate.  Another wonderful surge in futures between 6 AM and 9 AM on a Monday morning, for no particular reason (not even a "Merger Monday" to use as an excuse).

Much like last month, we have Monday morning markup following by the "first day of the month" magic on a Tuesday.  It will almost be a shock to the system if there is a selloff tomorrow.  Last week's selloff is already a fading memory and if tomorrow's rally delivers its normal 0.5 to 1.5% pop we should be at yearly highs.

Side note - no less than 3 "non stock market" type of people asked me this weekend why prices for "everything" were going up.  I told them not to worry... just there imagination as the official statistics show no inflation.  I left it at that, otherwise it would have been a 2 hour conversation each. 

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