- The market is rallying strongly as I type. It doesn't mean the final 2 hours will continue this way, but I had to chuckle at the Yahoo Finance commentary:
Buyers remain in complete control of the action; but one has to wonder just how much sidelined money is actually coming into the market or how many margin calls are giving the market an added lift.
- Their point may be valid. But it was just last week where the margin calls were working in the other direction and driving the market down! LOL.
- For those who wondered how the Norm Fosback month end strength game played out, by buying the market at the close of July 27th and selling at the close of August 7th:
QQQQ: July 27th close: 47.99; August 7th close: 48.31. Gain: .6%.
SPY: July 27th close: 145.11; August 7th close: 147.77. Gain: 1.8%.
- Easy!