Depravity is back. With the ECB in the market for all of the corporate debt in the world, investors are panicking for yield, scouring their local newspapers for common stock opportunities that might offer a better return than zero.
The NASDAQ raced higher by 86, spearheaded by oil stocks, which are now higher by 28% over the past two weeks.
Everything lifted, sans gold and bonds, as 81% of stocks traded higher, converging from the wretched breadth endured during yesterday’s session.
Optimism, for lack of a more appropriate word, is back. Even money hemorrhaging biotechs are in vogue.
The winter has passed and warmer climes are just over the horizon. Let’s just hope the sun isn’t too hot and your car isn’t made from dynamite sticks, else you might blow up and mushroom cloud into the after-life.
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