Is there any more for the government to do? They’ve cut interest rates and no doubt will do more of that; got their stimulus package passed; trashed the dollar; got gold flying again; muscled large investors; and, all in all, are marching to Wall Street’s tune.
Okay, what’s next?
The government has given it just about all they’ve got but momentum in financial markets is now going their way as they’ve put shorts on the run. To keep things going earnings will have to come thru and on that we’ve had mixed news. But, as long as momentum remains positive bulls will cherry-pick good news [DD yesterday and MSFT tonight] and ignore bad [AAPL and MOT].