Stick With the Trend
The senior indices weren't even up 0.5% today, but it sure felt stronger than that. I suspect the bears were caught by surprise when the dip-buyers stepped up again and kept things running. Big-caps, particularly Apple (AAPL) and IBM (IBM), continued to aid the bullish cause, but it mainly felt like a combination of algorithms and a short squeeze caught the bears being overconfident again.
One of the primary drivers behind the action was continued weakness in the U.S. dollar, which boosted precious metals, and silver in particular. Oil keeps on running and you have to wonder if that is going to be a problem, but for now it's all good. Biotech and some of the speculative stuff came back, but there wasn't much in the way of themes....124 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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