Fed beige book finally "have spoken"......and bonds retreated to 5.20%.
The BULL in markets JUMPS.
Today was a classic telltale of what is "so RIGHT" about this market.
Bond yield goes UP to 5.31%......futures were green......
Retail sales were healthy.......market was green...........
CPI fear was there....but.....market stays green...................
Then fed instead of "talking 24/7" opened their beige book......and they were "stunned"...there was NO pressure of inflation ........they had to check & recheck from secretary all the way UP to governor......and they all "finally saw the NO INFLATION light"..............................
Bull market said"what the hell........let us RUN ".......as they said rest is history !!!!!
This is the only BULL market which no one has any faith......which is great for next 1000 point on the DOW.....................with periodic sharp & swift pullbacks...............
RIMM in my portfolio went to all-time HIGH with 2 million more shares traded.....further UP in AH.
NMX continued its RUNUP into takeover hysteria by JUMPING another $3++ in TRIPLE the volume............
STP announced $600 million +++ silicon contract with HOKU AH....I am sure STP will be producing something with those WAFERS in 2008...which should be worth several Billions of $.
GOOG is crawling back into GREEN...............
GS & other financial stocks were UP.
Now for my wish for tommorrow...that my SNDK & STP wake UP from being almost DEAD $$$.
If I were you.....I will make sure that you are "all in" for next 2 days.
Good luck to all in CPI report.
BLOG does not give buy or sell.
Saleem
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