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MARKETS UP 7% IN 7 DAYS

|Includes:AA, AAPL, BAC, BWZ, DBA, DBB, DJP, EEM, EFA, EPI, EWA, EWC, EWG, EWJ, EWM, EWP, EWZ, FDN, FXE, FXI, FXY, GDX, GLD, GOOG, IEF, IGV, IWM, IYR, JJC, JJG, JPM, KBE, MOO, MSFT, PFE, QQQ, RSX, SGG, SPDR S&P 500 Trust ETF (SPY), TLT, UGA, USL, XLB, XLE, XLF, XLI, XLV, XRT

  

 

The bets are in Friday's Non-Farm Payrolls report which will offer a big upside surprise. Jobless Claims didn't offer any encouragement in this regard but the ADP report did with a large beat. Also, retail store sales were encouraging for Target (NYSE:TGT), Costco (NASDAQ:COST) and Macy's (NYSE:M). To argue markets aren't overbought would be an insult to "overbought". That said markets are just on a roll now as investors find few compelling alternatives to stocks no matter the news. And, equity money managers only know one directions and that's to buy.

Conventional wisdom had that when QE2 ended markets would tank and so far the opposite has occurred. It doesn't hurt (in the short-run anyway) that the ECB has suspended credit rating requirements when accepting collateral from PIGS in exchange for bailouts. We've gone so far down the pretend and bailout road there's nothing to stop authorities from just flat-out lying. It's like a professional golfer getting a mulligan on every hole. The lying and cheating has become beyond annoying and as long as authorities can get away with it they will.
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Stocks: SPY, IWM, QQQ, AAPL, GOOG, FDN, MSFT, IGV, BAC, JPM, KBE, XLF, AA, XLB, PFE, XLV, XRT, XLI, IYR, IEF, TLT, FXE, FXY, BWZ, GLD, GDX, DJP, USL, UGA, XLE, DBB, JJC, DBA, JJG, MOO, SGG, EFA, EEM, EWJ, EWA, EWC, EWG, EWP, EWM, EWZ, RSX, EPI, FXI