Miss the Gap, Miss the Move

Great earnings last night fed this morning's gap up. $$. If you missed it, you missed it. The market is flat since the gap.

Another reason to not fight the trend as the Dow is near a three -year high.

The only stock on the planet not participating? Wells Fargo. Beating by a penny just won't do it, Mister!

Regarding the S&P warning about the US credit situation? Who cares!

"That the U.S. dollar rallied after the negative watch status was announced, and ten-year U.S. Treasury yields declined slightly, suggests investors understand this action by S&P should force a realistic compromise plan to emerge as the U.S. approaches its debt ceiling limit in a month or so," Migliori said.

Do you really believe that? Does it seem that either side is serious about a compromise?

Anyway... Don't bother me when my portfolio is on a tear!
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I remain long in low beta stuff and oil stuff. Maybe my whole trading range idea flew out the window but I'm not going to load back up on high beta ahead of summer. Nope.