The main reason was the manufacture's report. It was expected to go down slightly for April and instead it went up 1.4 points instead of going down 0.4 points. Then right on its heals the car sales were all revised up. Now everyone expects employment numbers to be great on Friday. Thus the reason 70% of stocks had great rallies today inluding Lululemon.
Going to love it when it comes in between 170,000 and 190,000. Not weak enough to give the gamblers more crack and not strong enough to lead to a sustainanle recovery, especially with fiscal cliff looming. We're going to have do to do the hard work of INVESTING in technology and productivity.
Longs are almost fully conditioned now, as are shorts.