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Stocks Are Showing Strength

|Includes: AMZN, RIG, Simon Property Group, Inc. (SPG)

At least for the near future, stocks look strong.  Check out some of the breakouts going on - Simon Property Group (NYSE:SPG) and (NASDAQ:AMZN).

Simon Property Group (<a href='' title='Simon Property Group, Inc.'>SPG</a>) Chart
Simon Property Group (SPG) Chart (<a href='' title=', Inc.'>AMZN</a>) Chart (AMZN) Chart

Now, Transocean (NYSE:RIG) is a different stock from the high-flying stocks like (AMZN) and Simon Property Group (SPG), but the action is interesting nonetheless.  If RIG can get above the $55 level, we might see significant upside.

Transocean (<a href='' title='Transocean Ltd.'>RIG</a>) Chart
Transocean (RIG) Chart

For now, the trend looks to be up.  A couple questions I have:

  1. Is QE2 priced into the market?
  2. What kind of jobs report is needed on friday to reverse the trend?
Regardless, it looks like the government-induced bull market may still have some legs.  Despite its longevity, I remain skeptical.  There are ten reasons that could make me a bull, but those reasons have not yet materialized.

Disclosure: Long RIG