Yesterday’s standoff between bulls and bears is, for now, being resolved in the bull’s favor.
My own inclination was to be cautious until some kind of confirmation could be found of staying over S&P 700.
I added considerable funds this morning in anticipation of a continued rally. Still healing from the January reversal I am nervous as a kitten. But I figure this may have legs, especially if the retail investor begins to get a whiff. Should we be able to get side lined money into equities then we could experience something more than a short covering rally.
The skeptic should view this as a bounce in a bear market. But bounces like this can make one a lot of money…………….so long as one gets out.
So, the market is still a day to day proposition. The whole thing could turn around with bad news. But, this morning saw GE’s debt downgraded (finally) and the market rewarded the stock by pushing it up 11%. This on the relief that the downgrade was only from AAA to AA as well as commentary by the rating agencies.
It feels as if bad news is become more infrequent and investors (traders) rewarding good or neutral news with higher stock prices.
