Traders are thinking the worst of the short-term news is behind them. The horrific lack-of-jobs number this morning sets the stage for the hoped-for announcements next week of rate cuts, the auto bailout, and further Federal cash distributions. Anticipation of announcements is high.
So, they took ’em up after 2:30, right on cue. Recently, there has been little reason to trade this market until that hour.
Bonds, which were trading like a signal to Depression, finally corrected and some of those funds moved into equities.
Watch Obama on Meet the Press this Sunday for clues. Tim Russert will be missed more than ever.
Get some rest, next week is likely to be charming, if you like chaos.
