The Dow continued to make new highs today. Many are citing the $85B a month of Fed quantitative easing - Don't fight the Fed! Many are also seeing the improving economic numbers coming out and thinking that the worst is behind us and the economy will continue to grow.
The non-farm payrolls number will be an interesting tell tomorrow. After all, one of the reasons the Fed continues to pump cash into the economy and artificially drive down interest rates is to get unemployment down. If the numbers come out showing employment is improving, one has to wonder if the Fed may start thinking about ending their easing policy. What impact will that notion have on the market?
Just thinking out loud.
Still in cash. Still missing these daily ALL TIME RECORD HIGHS on the Dow. Yikes. Waiting for some sort of correction. I get the feeling I'm not the only one waiting for a correction, thus every little dip gets bought right back up. LOL.
Posted with Blogsy