Futures are up everyday no matter what. There is never any follow thru, whether its down 10 , 50 or 100 pts., the next day the futures are always up. Historically its easier for the market to go down than up but just like yesterday it was an all day grind just to get the dow down 50 pts. with battles all day, and it turns around and opens up 50 in 3 mins the next day. Tough fighting the tape, but the tape is misleading. The rotation has been unbelievable as the averages stay up but very few stocks do.Probally looking at a 100 pt. day since its struggled most of the week. You know it will have to hit ne all time highs before its said and done
How about the upgrades to GM and X, both reports sucked and they're losing money hand over fist. Glad I got out of INTC, it may still trend lower but it looks like some brokerage is preparing to upgrade it based on stock movement.
The market went up 200 pts last week because the fed was done, or we were told anyway. Now with durable goods this high means that there is no way the fed is done, and the market rallies again. Whats the reason today ? Earnings have been great but the market is trading on the present, and I still think this bubble is bigger than 2000, with the back drop we have in place. Shows how wrong I am, as the dow is hitting new highs