(As of 7:18 am PST)
Irrepressible is the term that
best describes today's market. Just when
it appears that profit taking will take a bite out of market gains, another
wave of buying pushes indexes to new highs.
International news is mixed and no significant economic reports are out
yet today, but the Dow Jones Average has reversed itself from the negative, and
if activity of the prior week is any indication, other markets will follow.
Optimism abounds. In the meantime commodities
have joined the parade. Oil and gold are
up about 1% and most other commodities are higher. The US dollar index is down as risk is not a
great concern in this frothy market.
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