iBankCoin
18 years in Wall Street, left after finding out it was all horseshit. Founder/ Master and Commander: iBankCoin, finance news and commentary from the future.
Joined Nov 10, 2007
19,771 Blog Posts

Hardly an Awe Inspiring Rally

But I’ll take it. About 75% of stocks are higher today, despite the market softening from the minute it opened.

There are several headwinds to contend with, the first being oil. The absence of production cuts out of OPEC and Russia has the oil market in sell mode.

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Second is the dollar trading higher.

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European markets have reversed early gains and are now in the red.

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We were supposed to rally 200+ today.

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Nevertheless, since overall breadth is good, some gains should hold. Coming off a 300+ point rally, anything short of a complete reversal is acceptable, given the malicious tone of this market for the better part of the past two months.

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3 comments

  1. edgar

    the short bus is rollin!

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  2. toad37

    Been scalping Ark tickets, cheesy way to make a living but times are tough.

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  3. J Adabese (your pen pal)
    J Adabese (your pen pal)

    Ahoy from Jamaica mon !!

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