The Bulls Gain Momentum
After a weak open on poor Chinese economic reports, it looked like the market was going to break its winning streak. It did stumble for a while, but the dip buyers, who have not had many opportunities, showed up and really ramped it up in the final hour. The result was the sixth positive day of action and the highest close since May 1.
I've been pointing out recently how these V-shaped moves have a tendency to persist longer than most people think is reasonable. Are buyers that greedy that they don't lock in gains after this sort of action? The answer is yes, but we also have to give credit to the bloodless machines that are programmed to confound us poor humans....125 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
There’s no substitute for a trading floor to get great ideas, so Jim Cramer created a better one at Real Money and blogs there exclusively. We then added legendary hedge fund manager, Doug Kass, with his exclusive Daily Diary and best investing ideas. Staffed with more than 4 dozen investing pros, money managers, journalists and analysts, Real Money Pro gives you a flood of opinions, analysis and actionable trading advice found nowhere else, and allows you to interact directly with each expert.
Already a Subscriber? Please login.