Another Up Day (so far)

Maybe one of the reasons the market keeps going up is because everyone is telling us that it can't keep going up without a pullback.
Looks like the Greece news is also helping. At least here. Have you seen the riots in Greece? Once the government hands out benefits, this is what happens when the government tries to reduce benefits.
Nice day for the market.

Thursday Hem-Haw Randomosity

• Thursday! The market may not not care, though. Mostly hemming and hawing so far today.
• You can read Timothy Geithner's comments here, but did you happen to watch him this morning on bubblevision?  He seemed in a more upbeat mood, had some smiles here and there.  Overall, you get the impression that he knows the economy is mending.  Yeah, yeah - news headlines, foreclosures, unemployment blah blah blah.  All lagging indicators.  Things are improving, and guess who will look good next election cycle?  The Democrats!  Not that they did anything per se, but looks like they'll benefit from the upswing in the economic cycle.  It is what it is.
• Oh, and health stocks may improve as it looks like the nationalized health care fiasco is dying or whittling down.
• On yesterday's Investor's Edge, Gary Kaltbaum mentioned that we're seeing more rotation than selling, which may be interpreted as bullish.  Gary also said he's been underperforming the market since early May. You can catch his archive from yesterday at garyk.com.
• Analysts wil be upgrading E-Trade? Although the stock sold off irrationally, the fact that ETFC's bond rallied to 98.5 reaffirms that ETFC is turning the corner.  The risk of default is significantly decreasing and ETFC is on its way to increasing capital ratios, reducing balance sheet risk, and significantly reducing its debt burden.   (Disclosure:  Long ETFC)
• Gary B Smith says on Twitter that the market could be in for a small bounce.
• A Florida city imposing dress code that includes underwear and deodorant.  The city council in Brooksville north of Tampa recently approved a dress code that instructs employees to observe "strict personal hygiene."  It also prohibits exposed underwear, clothing with foul language, "sexually provocative" clothes and piercings anywhere except the ears.  Repeat offenders can be fired.

Wednesday A.M. and Taylor Swift!

• Market meandering after two strong down days. IBD still has the market uptrend under pressure.   Sometimes I wonder if by the time IBD makes a switch from uptrend to downtrend, if you've missed the bulk of the move.  So what good is it!?
• Other technicals for SPY and QQQQ... RSI(2) is in how-low-can-you-go limbo mode.  Very low.  MACD crossed to the darkside a few days ago.  For all the weeping and gnashing of teeth, the SPY is just below the 21dma.  And the QQQQ is right about there, plus or minus a bit.
• New $AAPL iPhone operating system out today.  That'd be "3.0," baby.  I'm always a bit leary being the first kid on the block to upgrade.  I prefer someone else to do the beta testing, no?  LOL
• Fantasy basebally waiver-wire pick-ups today?  The Twins Francisco Liriano pitching at home against the Pirates, and Yankees (and new father) Chien-Ming Wang pitching at home against the Nationals.  Why not?
• Gasoline prices up 50 days in a row!  Wow!  Fantastic! 
• Of course, the CPI rose less than expected in May.  Consumer prices rose less than expected in May and posted the steepest annual drop in 59 years, according to government data released Wednesday, fresh evidence that the recession is keeping inflation in check.  Well, if you're spending more at the pump, you're spending less elsewhere. 
• 8-year old boy saves sister and drunk adults from fire.  Police in Poland say an 8-year-old boy saved his sister and three drunk adults from a fire by calling police and fighting the flames before help arrived. The fire started outside the door of the boy's apartment in the western town of Miedzyrzecz late Monday.

Picture is of Taylor Swift, who won the CMT Video of the Year and Female Video of the Year at Tuesday's CMT Music Awards.