Thursday, June 4, 2009

Certainly No Fear Today

The saying goes that the only thing to fear is fear itself, but there sure doesn't seem to be much of it around today. The buyers were happy to chase things higher once again. I'm amazed at the big moves in some of these small-caps. Once again, there was wild action in low-priced biotechnology stocks and the bounce in oil and commodity stocks was fast and furious.

Weak retail sales and rising interest rates were ignored and there doesn't seem to be much fear over what tomorrow morning's jobs report might hold. Stocks are going up and overwhelming fear is being left behind.

The major indices are in very strong uptrends and we have to respect that above all else.

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