Am I Wrong?
Based not only on the stunning rally following the FRB announcement, but also the fact that the market began the day down sloppy and ugly... and right on schedule. That reversal, even before the FRB announcement, initially heartened the bulls. Of course, the earnings reports from Google/GOOG and Starbucks/SBUX have yet to be heard. Those reports come ~1 1/2 hours from now. What saves my portfolio's bacon, fwiw (a lot!), is that I had purchased those stocks I perceive to be the 'new' leaders.
As always, time will tell the tale of the tape. Soon.
-- David M Gordon / The Deipnosophist
Labels: Market analyses