So, the Big Bob Rally broke the 900 mark on the S&P…..so how big of a deal is that? Just a little over 7 weeks ago, the market bottomed at 666. These kind of moves are rarely seen, especially as our economy seems to be falling apart at the seams.
I’m don’t fighting the tape, I entered into a few select positions today and held them overnight….just one big cap name, General Mills (GIS), the rest are speculative plays (AXYS, CSKI, SLW). I bought some Natural Gas this morning, but after a big run up I sold it before the end of the day. But being the great believer in Hope and Change, I made a good bit this morning shorting the good old American Dollar.
I also found a theme song for the Rally, Tom Petty’s I Won’t Back Down (whole lot better than Free Falling, but I think Learning To Fly (Without Wings) might be just as good of a choice)