Bears Get Run Over ... Again
There are some very loud skeptics questioning this morning's jobs news, but the market just doesn't care. As usual, the bears are caught trying to anticipate a top and the market keeps running, although it is becoming overbought and hitting resistance. There are few things more dangerous than trying to anticipate a failed bounce in this market, but it is hard to resist if you believe in rationality.
In any event, the action is quite strong this morning with breadth approaching 4:1 positive with just precious metals and solar energy weak. Biotech continues to attract speculative money, the banks are coming on strong and homebuilders have regained their bounce. Even chips are finally acting a bit better....147 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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