Friday - JPM and INTC have "good" earnings - the both sell off and the market follows....
Today - Citi has "bad" earnings - rallys as does the market.
Today builders confidence number was worse than expected, ABC consumer confidence worse than expected, Insider selling continues at record pace - with virtually no buying, AAPL reports that its unveiling a new product that has been rumored and expected for weeks - and the stock rallys like $8 bucks?? What gives?? Apparently todays rally was fueled by the hope that Massachusetts senate seat was going to a republican - which I guess is bullish b/c it will derail the healthcare reform plan???? Who knows - so we have gridlock in Washington and thats a good thing right??
The VIX continues lower almost closed below 17 today - thats cool - forget about the facts that California and other states are basically broke - forget about the fact that the FHA is raising fees and making lending tougher http://finance.yahoo.com/news/Federal-Housing-apf-268619640.html?x=0&sec=topStories&pos=main&asset=&ccode=
Forget about everything - come in and buy the market everyday, every night - there is no risk - outlier events have no impact (Dubai - the Greece situation). Be long or be wrong!!!
JB
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