The S&P is higher 6 out of the last 7 days - pretty good success numbers for the Bulls. Today was a mind numbing session of random bullish action - commodity stocks were higher as were small caps, tech was mixed bag, banks were strong. Ford introduced its new Explorer which I gotta say looked pretty damn nice to these eyes - assuming it drives well and fit and finish are good that should be another success for Ford.
Im still very much a skeptic of the "recovery" - corporate profits are coming in strong but whats driving them? Emaciated cost structures and stimulus sugar still in the system. Anyway - thats my opinion. It seems like when you see Geithners name in the news a lot you see a strong mkt....He's been in the news talking about the need to let the Bush Tax cuts expire....you see they need more revenue to pay for all of the SPUZ he has been buying - simple.
Im pretty beared up again - think 1110 holds as resistance and market returns back to 1050-1065 range in pretty short order....but hey you guys know Ive been wrong before.
JB
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