October 14, 2009
10,000 MEANS CLEAR SAILING?
This isn’t too surprising. Is this just a target met? Window dressing for Main Street? The exit signal?
No doubt folks will feel better about their own personal financial conditions while others, too logical or close to the action, will be scared stiff!
'Out of sight, out of mind' is the continued decline in the dollar as no one cares today.
So we get new highs on what passes for good corporate earnings news (JPM and INTC) and up we go. Volume was modest for the occasion while breadth was impressive and positive.
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