Enjoy the melt up. Right now the shorts need a dirty bomb to go off in Times Square to get this thing down. Maybe some Russian boots on the ground on Park Ave. would stir things up. Yesterday Russia shot off an ICBM ( that”s Intercontinental Ballistic Missile for those of you that are not in the know), and North Korea shot off a missile yesterday (almost hit a passenger plane), and the market continued its beast mode antics. It’s a secular bull, and we are still the best game in town.
Stocks like ($TSLA) offer money for nothing and they step on each others throats to get some of that. The stock flirts with more all time highs and it will go much higher behind the beard of it being “just a cool car company”.
Biotech ($IBB) goes down for a day or two, then explodes higher. Its become routine for some of these names to go up 5-10 bucks a day.
The financials are getting their groove back too. Industrials led the way yesterday. Nice depth and breadth too. $AAPL just meanders along and no one cares right now. I’m waiting for the octagonal iPhone.
The Ukraine isn’t resolved yet, even though people think it is, so you always have to be cautious. Hard to to be warm and fuzzy with botox boy heading negotiations. He’s no Kissinger. I am no longer Facebook friends with Vladimir Putin and I’ve been watching all the news in a mink hat from Kiev. I guess Crimea isn’t something the Russians wanted to give up for Lent. By the way, when did it become Ukraine and not THE Ukraine? Deep thoughts.
Evidently some oligarchs lost $12 billion yesterday as their market and currency had a mini crash. Word out of the gulag is that big pressure was put on Vlad to chillax. It’s always about money.
Look for ADP employment figures at 8:15, ISM at 10 AM and the beige book at 2PM
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