Wall Street continues to baffle spectators like myself. There is a great deal of distress in the US economy and forgive me for not listing the partial to massive list. Yet the market keeps chugging along.
One thing that is very irritating about reading financial articles surrounding the market's future is this. If futures are up, the dollar is down, and commodities are up, just like this morning, financial journalists will find talking heads that will explain why everything is so rosy.
On the other hand when the opposite scenario is occurring, the journalists will seek out the investors that will go on record saying they are ready to throw in the towel.
We need better information, except for one miserable point. The market is not predictable by ordinary measures. It is a fickle thing, very amorphous and unshapely.
Reuters: Futures up after Bullard comment, weak dollar
James Bullard...said Sunday the central bank should extend its mortgage-related assets purchase program to give policy-makers more flexibility as they help the economy recover from a painful recession.CNN: Wall Street may follow the world higher
...surge in commodity prices...
Oil also rallied, with the January contract climbing 93 cents to $78.40 a barrel.
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