(as of 7:00 AM PST)
Perhaps the Fed does know best. Maybe things are not as bad as January's dismal stock market performance indicates. Markets are charging out of the gate this morning continuing the abrupt positive turnaround that came in the last couple of hours yesterday. The Dow is up over 1% and other indexes are following. The early February pattern we are seeing is eerily similar to last years market behavior which saw a weak January overwhelmed by a strong surge of investor demand in February. Let's hope the pattern continues. Gold is giving up some of yesterday's gains while oil is bubbling up over $2 per barrel. Investors are all in and bear minded short sellers are getting squeezed by this surprise rally.
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