Today was nice and everyone made a bit of money. But let’s not get ahead of ourselves. Small capped stocks have been the bane of the market for more than a year. With TLT north of $130, the evil, dark, forces are emboldened to speak through devils, like Rickard Santelli.
I have no reason to celebrate today, just like I had no reason to worry about the past few.
What this market needs is some significant momentum to get the juices going again. How much momo? We need 1,000 points, straight up, led by technology and high beta gambling stocks.
Europe is in the grips of crippling deflation. They need to act now and start to QE Bernanke style, otherwise this rally is toast.
Top picks: homebuilders, biotechs
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