Today is a major anniversary. The market bottomed on March 9th, 2009, with the Dow at 6547 and the S&P at 676. This was a 17 month slide, many of those months the government still defining if we were in a "recession" yet.
In the past 12 months the industrials have rallied 61% to 10,566 and higher, and the S&P to 1138, and higher.The S&P is still 27% below its 2007 high of 1565.
Remember these "facts" as you trade the market this week, and realize we are either in another bubble, or are creating one.
And for those of you that like angry but smart people, enjoy:
MICHAEL MOORE: President Obama, Replace Rahm With Me: An Open Letter From Michael MoorePresident Obama, I don't know what your team has been up to, but they haven't served you well. And Rahm, poor Rahm, has turned into a fighter -- not of Republicans, but of the left.
Or perhaps a reality of "financial democracy:"
WSJ: Bring Back The Robber Barons!
If the goal is job growth, we need to admit one fact: Political entrepreneurs create fewer jobs than do market entrepreneurs. We need new mass...
Or, perhaps that China may not be using the USD as a "peg":
http://www.ft.com/cms/s/0/6cd3a766-2925-11df-972b-00144feabdc0.html
"It's not the strongest of the species (think "traders") that survive, not the most intelligent, but the one most responsive to change." Charles Darwin
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