After five down days, the market stage a bounce on great earnings numbers from Alcoa. Any excuse to give some relief to the slide! While the Fed Beige Book showed moderate economic growth, one has to wonder if the growth is strong enough to drive investor enthusiasm into the tricky Spring-Summer market. In addition, fuel prices continue to squeeze consumer discretionary funds.
No changed in my portfolio. I continue to have a lot o cash and low beta holdings.
I'm wondering if folks will use the bounce to reload on shorts. That is what I would expect if the market is in correction mode.
Fed survey shows growth, improving hiring
http://www.usatoday.com/money/economy/story/2012-04-11/federal-reserve-beige-book-april-11/54174778/1
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