Wednesday Outlook: Crude Rally

"U.S. stocks swing higher as crude futures fall"

So ran the closing headline from MarketWatch. Gee, oil prices were only $128 - I guess we can all relax now and buy some stocks. Once again, there’s a lot of low-yielding cash on the sidelines looking for “any” opportunity to get invested. This is the battle taking place between bulls and bears. Bulls’ cherry-pick the news they like and with all that cash subdue bears focused on crummy news from consumers and what may prove as false hopes from home price data. Ignored in the home price data was that the previous month was adjusted lower while current data is seasonally adjusted--whatever that means.

I believe volume on this up Tuesday was even lighter than on Friday meaning many have taken an extended vacation. After all, if you’re gonna pay a gazillion dollars to drive somewhere you may as well make it worthwhile.

The Four Horsemen, GOOG, RIMM, AMZN and AAPL, were in the saddle and charging today.

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