Stocks were higher for the third straight day. Dow was up 114, advancers over decliners 2-1 & NAZ up 17. Sounds good, but the gains mystify many traders after the large number of negative announcements. Today was attributed to the IBM (IBM) announcement about the share buyback. Oil closed at 100.85 as traders ignored a sluggish US economy needing less oil. Gold was up again, to 949. This was one of those days when bulls took command & never let go. The markets are getting technically "overbought" signaling a pullback is coming.
Google (GOOG) declined 22 on reports about a slowdown for click through ads, another indication that the US economy is going into headwinds. I may be partial to Google for hosting my blog, but they are down almost 300 points from the high just a few months ago.
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