Good morning. Happy Friday. The stress tests were officially released yesterday after the close. The futures market has reacted favorably to them. Just prior to the 8:30 am release of the unemployment report, the S&P futures were up about 12.5, matching yesterday’s loss. The Nas is currently on an 8-week winning streak. It’ll have to […]

Good morning. Happy Thursday. The market is in idiot mode. That’s when the market gets bought up despite prior gains and all logic and when you’re literally amazed at the bulls’ ability to keep pushing prices higher. I’m one of those bulls (for now). When many others tried picking a top (several times) I stuck […]

Good morning. Happy Wednesday. After a big up day Monday, the market took the day off yesterday. No big deal in the grand scheme of things. The ‘2 steps forward, 1 step back’ action continues. Bank of America (BAC) has been warned it will need to raise $35 billion – much more than many expected. […]

Good morning. Happy Tuesday. The market shifted into idiot mode yesterday. That’s where everything gets bought up irrelevant of all factors. Even the bottom of the barrel crap that has no business staying in business during a recession got bought up. Coal stocks and steel stocks (both highlighted over the weekend) did great. Oil did […]

Good morning. Happy Monday. Hope you had a nice weekend. Last week was the 8th consecutive up week for the Nas and 7th of 8 for the SPX. Other than the first couple days off the March low, it’s been steady, methodical buying – 2 days up, 1 day down type of action. I’ve been […]