- Continued better-than-expected earnings news. I keep watching for some indication that the rally is over. But internals decent today, too. Keep on trucking'... Financials lagged, but techs surged. Takin' turnsies leading the market up? Fine with me...
- President Obama had his on-line thing today. I wanted to ask him to put shoe on head. (lol - the first definition at that link...)
- Anyways, I went to ask a question and saw that no more questions were being accepted. The top question was about legalizing marijuana. So I figured OH BROTHER why bother watching? Then he started off with his same ol' thang speech. Blah blah blah. Yawn..
- I wanted to ask about energy, because IS ANYONE ELSE NOTICING INCREASING OIL PRICES? You will. If not now, it'll be soon.
- Greg Mankiw on history repeating itself. Compares Obama's 2009 promise of a middle-class tax cut to Bill Clinton's 2003 promise of a middle-class tax cut. Stay tuned!
- Even bonddad is sounding chipper today. The rally continues. Prices are now above all the SMAs. in addition, the 10 day SMA is about to move through the 50 day SMA, which would be a very bullish event. Also note the 20 day SMA is moving higher and the 50 day SMA has lost its several downward sloping trajectory. Hmm, contrarian bells making a lot of racket on that. Just kidding, BD.
- Calculated Risk notes that the unemployment rate is still rising. No surprise. Lagging indicator. Companies usually cut folks as a last resort, and then wait awhile into the recovery before adding folks back on. They'd prefer to work folks overtime in the early stages. Watch hours worked!
- You know what lags even more? Government revenues! We pay taxes on last year. So the government will probably be in crash mode for a couple of years longer than the recession. Well, I'm not factoring in relentless borrowing from abroad to keep the boat afloat.
- Paul Kedrosky observes that the Nasdaq is now flat for the year! (Link to his real blog, not the Seeking Alpha one). The Nasdaq Composite is the first of the major three U.S. indices to blow the all-clear whistle, it seems. It touched being flat year-to-date today, which is fairly remarkable considering it hit its low not even a month ago.
