Market recap: It's like last week never happened, as stocks closed out their best week of the...


Market recap: It's like last week never happened, as stocks closed out their best week of the year on optimism Spain will get some sort of lifeline over the weekend. Tempering sentiment, a batch of gloomy data from China is expected on the heels of yesterday's surprise rate cut. Crude oil snapped a five-week losing streak ahead of next week's OPEC meeting. NYSE gainers led losers two to one.
Comments (6)
  • Whitehawk
    , contributor
    Comments (3121) | Send Message
     
    On the sidelines until we get some improved trending...(sidelines == trading only intraday)
    8 Jun 2012, 04:21 PM Reply Like
  • into dark shadows
    , contributor
    Comments (460) | Send Message
     
    So all the worlds problems are solved?
    Really?
    Excuse me if I differ here, but what you are witness to is nothing more than a short covering rally!

     

    Just what is there going to be coming out of Europe that's different than the last two YEARS?
    Spain is not going to get bupkiss!

     

    The China data dump is not exactly something that instills a lot of bullishness.

     

    We were due for a contra trend rally, but to expect things to be back to honky dory is just plain,
    hoary!
    Sell into this move up and reload to get short for aggressive traders.
    The fed is dead, China is slipping faster than anyone wants to imagine and Europe is a bug in search of a windshield!
    This doesn't even take into account all the political / Middle East chaos...
    8 Jun 2012, 05:05 PM Reply Like
  • glssmrbl
    , contributor
    Comments (1278) | Send Message
     
    I sure am betting that the worst isn't over. Hopefully this turns out right.
    9 Jun 2012, 08:42 AM Reply Like
  • untrusting investor
    , contributor
    Comments (9903) | Send Message
     
    Amazing day in US markets .... virtually every market in the world down today, but US market continues to rise. Does the rest of the world know something that the US doesn't know?
    8 Jun 2012, 06:31 PM Reply Like
  • glssmrbl
    , contributor
    Comments (1278) | Send Message
     
    Sounds like a CNBC question.
    9 Jun 2012, 08:41 AM Reply Like
  • J 457
    , contributor
    Comments (1000) | Send Message
     
    Absolutely defies logic. Not sure who is buying, but everywhere I look I see poor economic data. From China cutting rates, to EU, to USA fiscal cliff. As usual, it was a low volume melt-up which tells me the selling will resume next week. Besides, don't these Wall St. geniuses know Ben won't print with the SPX above 1,300. Now, drop it down to 1,150 range and its game on.
    8 Jun 2012, 08:31 PM Reply Like
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