Monday, May 18, 2009

Oh, so that's what he meant by "green shoots"

So this is what Bernanke meant by "green shoots" - weeds popping up at the mall.

Seriously, another powerful rally on light volume. This was the trend over much of the last few months gap open and then someone buys the market on every dip. I don't know who is buying right now - you can argue that stocks are not only not cheap, they are in effect the most expensive that they have EVER been. I still think the rally is getting tired, but a few more days like this and we'll push through to new technical levels.

I spent most of today trying to deal with my new addiction - It's a terrible web name with a great product. This is the future of online news - it's a drudge/bloomberg/WSJ/FT/NYT killer. You can't get on the site without an invite, but I imagine they'll come out of beta soon. When they do I'll let you know. Basically, it's scrolling news from all of the major media outlets with short summaries and a visual interpretation (a green light = a positive story, a red light = a negative story).

Again the problem with all of these aggregators is that as they draw business away from traditional media, there will be fewer and fewer stories to link to, but that's an issue for another day :)

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