The Dow jumped 170 points yesterday (1.68%) as the euro bounced and the dollar took a beating. Seemingly every CNBC pundit I listened to has officially declared the correction to be over. Commodities had a nice day higher with gold surging 2.75% to close at $1,120 an ounce.
Overseas markets followed renewed US optimism with Tokyo gaining 2.72% and London trading up almost 1%. US futures are trading higher by 0.6% in premarket. I'm not convinced the correction is over but looking back over the past few weeks, there were 2 days to make money that came out of nowhere, and while I was on vacation. Since then, bearish bets have been tough and unrewarding.
Lewis Black's book, me of little faith, is apparently a flop after I watched him present the book six months ago at a Barnes & Noble on the Upper East Side for $24.95. This weekend, I found the book in B&N's oversupply of "bargain books" for $4.98, damn! Yet, if you can laugh at religion and enjoy extreme sarcasm, the book has definitely kept me laughing. I also picked up How I Became a Quant which has been excellent so far.
The Olympics rolls on. Why do have very little interest in these games? I think it's because I've already got my focus on the World Cup. Can't wait for US v. England!
George Soros has doubled his investment in GLD to 6.2 million shares as of the end of last year. After the re-test and hold of previous all-time highs on the dollar's bounce, a new high in gold will confirm a renewed bull market and we could see a significant pick up in momentum. A lot of smart money flowing into GLD.
Walgreen's (WAG) bought Duane Reade this morning for $1.075 billion. This is a big departure from their long-time organic growth strategy as compared to their rival, CVS Caremark (CVS), who through acquisitions has returned far greater to shareholders with a 34% five-year return compared with Walgreen's 20% loss over five years.
Markets on the Rebound, Correction Over?
The Dow jumped 170 points yesterday (1.68%) as the euro bounced and the dollar took a beating. Seemingly every CNBC pundit I listened to has officially declared the correction to be over. Commodities had a nice day higher with gold surging 2.75% to close at $1,120 an ounce.
Overseas markets followed renewed US optimism with Tokyo gaining 2.72% and London trading up almost 1%. US futures are trading higher by 0.6% in premarket. I'm not convinced the correction is over but looking back over the past few weeks, there were 2 days to make money that came out of nowhere, and while I was on vacation. Since then, bearish bets have been tough and unrewarding.
Lewis Black's book, me of little faith, is apparently a flop after I watched him present the book six months ago at a Barnes & Noble on the Upper East Side for $24.95. This weekend, I found the book in B&N's oversupply of "bargain books" for $4.98, damn! Yet, if you can laugh at religion and enjoy extreme sarcasm, the book has definitely kept me laughing. I also picked up How I Became a Quant which has been excellent so far.
The Olympics rolls on. Why do have very little interest in these games? I think it's because I've already got my focus on the World Cup. Can't wait for US v. England!
George Soros has doubled his investment in GLD to 6.2 million shares as of the end of last year. After the re-test and hold of previous all-time highs on the dollar's bounce, a new high in gold will confirm a renewed bull market and we could see a significant pick up in momentum. A lot of smart money flowing into GLD.
Walgreen's (WAG) bought Duane Reade this morning for $1.075 billion. This is a big departure from their long-time organic growth strategy as compared to their rival, CVS Caremark (CVS), who through acquisitions has returned far greater to shareholders with a 34% five-year return compared with Walgreen's 20% loss over five years.
