Bear Market Rally?

This bear market rally is amazing.  It’s sometimes hard to see how people get so optimistic within our economy.  In my Larry Levin update this morning he commented on this and really nailed the context of this market:

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There was a lot of economic data today.  Let’s have a look-see…

1. Inflation (CPI)?  100% WORSE than expected? – Check
2. Current account deficit horrible? – Check
3. Empire State manufacturing data 145% WORSE than expected? – Check
4. Industrial Production still in the toilet? – Check
5. Weekly jobless claims FAR WORSE than expected?  Yes, AGAIN – Check
6. Philly Fed Survey WORSE than expected? – Check
7. Global central banking INTERVENTION ignites the 3rd consecutive preposterous hopium rally with a Dow close of +186 points!  PRICELESS!

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I couldn’t have said it better!

Good Trading…