It’s almost too painful to watch now!
After Friday’s wild close, which trampled steadfast bears, stocks are up more than 2%, as the bulls, buzzards and vultures stuff themselves on bear carcas. Everyone seemed to think that Friday’s close was the result of some kind of manipulation or forced short covering, making it a great oppoertunity to set up some shorts.
It’s like something for a National Geographic special, but don’t let the kids watch, or they’ll never to go the zoo again.
The latest green shoot to put in your pipe: Some fresh ISM numbers, showing hints of a slowing slowdown. Construction spending was also nice.
As we said Friday: Screw the stupid bond market.