The market exploded up yesterday after a speech from Ben Bernanke where he indicated the need for continued stimulus. More "free" money (financial cocaine) for the markets. What could possibly go wrong? I won't answer that question just now, but there will certainly be repercussions down the road.
For now, this is a one-way freight train speeding down the tracks, flattening any bears who dare to venture out. Is this latest surge end of quarter "window dressing", where under-invested money managers scramble to show the "right stocks" are in their portfolios? There's no need to over think it, just go with the prevailing trend.
ALWAYS use stops to protect from big losses.
Click on charts to enlarge view:
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