Up to the 50dma

The major market indices rallied up and kissed the 50dma today, as the European Central Bank did as expected and announced they were going to print and print and print.  The goal being to keep interest rates low, pump up asset prices, try to avoid deflation, or just be seen as trendy and cool.  After all, everyone is doing it these days!

Stocks have faded the open yet again and then faded the fade.  I suppose some money could be made flipping that around, but I know if I tried it I would just get whipsawed. It works until either it doesn't or as soon as I try it!   I'd rather look at intermediate and longer term ideas. 

I'm still long the market.  I have been hesitant to play high beta names so far in 2015. Seems like the only things working are biotechs and airplanes.  I'm worried that when the party ends for the market, the biotech sector will take the biggest hit because that's where the momentum and  high beta stocks have been.  You know, up a ton, no earnings, and folks speculating on drugs in trial phases.  But I hope it ends well. Some of the new drug studies could yield some great new treatments and cures.  

Thursday already!

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Kobe Bryant hurt his right shoulder last night against the Pelicans, and came back in and shot left handed?  Crazy.