Thought the nasdq was too pooped to pop this week??? News still sucks. Heck we had a charity dinner at our church and the attendance and revenue were off about 35% from this time last year. Things are bad out there and the stocks are climbing like rockets. PS - I'm not a short.
Simple. Interest rates on bonds, the primary alternative are crappy AND people are playing every surge thinking it may be the big one. The problem is that things have not improved to indicate a recovery YET and those who buy into the tail ends of these surges get their money taken by those who know better and short the higher prices.
Take profits into these surges. They will likely recede even though the overall trend may have a slight positive slope.