Well, they did it again.
The DJIA closed up for the ninth consecutive day, the best run since late 1996. Much of the uproar centered on better-than-expected February retail sales. Credit the consumer, but don't leave out the Fed with its bogus "wealth effect."
This is exactly what the Fed wants: Get the natives feeling better about themselves and their future via housing prices and construction or voodoo if necessary. That's what some believe the Fed's current MP is: A little of this, a little of that and a lot of voodoo.
The DJIA eked out a gain, closing at 14,45.28, up 0.04% while the S & P 500 inched closer to it all-time high closing at 1,554.52.
The nine day streak is the best since the 10-day run in November 1996. The thing to keep in mind is the longer the run goes on the more likely the upcoming pullback--and there will be one--might be steeper than most expect.
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