Yeah, the market stormed higher today! $$
If you missed the gap opening, too bad. Today's market stormed out of the gates on the "euro deal" reason du jour. Yes, I guess it's going to rain free cash in Europe. Although, if you read some analysis, the devil will ultimately be in the details.
But that wasn't today's business.
In addition, today is the last day of the 2nd quarter and end of the month. Sometimes we see some "piling in" to the winners and stocks most heavily weighted in the indexes.
On the other hand, sometimes the biggest rallies happen when the market is in a down trend.
I remain mostly in cash and low-beta stuff. I still think the 2012 summer theme is "trading range." I certainly missed a chance to get in near the bottom of the range this week, but I think we'll be back down again. This year looks eerily similar to last year.
There is a holiday in the middle of next week, and lots of folks will be on vacation. Yet, there will be some major economic news and maybe more details on the Euro details. Plus, earnings season is around the corner - again!
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Stocks, Euro Jump While Oil Posts Best Gain Since 2009
BLOOMBERG NEWS | JUNE 29, 2012
http://pulse.me/s/aKNy5
Global stocks and the euro surged the most this year, oil had its biggest gain since 2009 and Spanish bonds rallied after European leaders reached an... Read more
--
Sent via Pulse
Stocks, Euro Jump While Oil Posts Best Gain Since 2009
BLOOMBERG NEWS | JUNE 29, 2012
http://pulse.me/s/aKNy5
Global stocks and the euro surged the most this year, oil had its biggest gain since 2009 and Spanish bonds rallied after European leaders reached an... Read more
--
Sent via Pulse
