Yesterday, stocks rose for another day and markets seem ready for new highs.. but why? Are we out of recession? Recovery comes earlier than expected?
For sure, the latest macroeconomic news highlight an improvement in global economies; US economy shrank by a lower than expected pace; Durable orders started to warm up; More importantly market confidence gives the impression that is back.
In my opinion, this euphoria is mainly triggered by the common anticipation that the abyss of the worst crisis in the last 50 years is behind us or else we have seen the bottom of the crisis, therefore now markets can only go higher.. or not?
Food for thought (http://dshort.com/charts/bears/road-to-recovery-large.gif):
Ps1 Are you short or long?
Ps2 Citigroup above $5.. again..
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