The BIG SUCKER RALLY on Wall Street
is approaching 11,000 on the Dow again...and it will be interesting to see if 11,000 can be breached...and hold till the close of trading.
With so many anomalies and conundrums in the markets it's amazing that this rally is even happening... But the Street has a belief that the 401k lemmings will be running no matter what. And there is a tradition on Wall Street that the lemmings always BUY HIGH AND SELL LOW...
The fundamentals of the market are truly dismal... With the twin deficits and the scandels in Washington...not be mention the disasterous and costly war in Iraq AND last but not least the reality that mom and pop can get 4% in a bank CD now...and a little more if they go with short term money market funds.
SO WHO NEEDS TO RISK CAPITAL IN A MARKET THAT HAS AN INVERTED YIELD CURVE...AND A NEW FED CHAIRMAN COMING ON IN A FEW WEEKS...
Well, never mind... It's a great sucker rally anyway...and even GOLD and oil are participating!
SOMETHING FOR EVERYONE THESE DAYS...
