Futures are flying this am on news of a coordinated world-wide central bank intervention to inject liquidity into banks. Couple that with end of the month pressures and better ADP employment numbers and you have the basis for what ought to be a good day. Assuming this holds and the Europeans give off even an a small amount of ability to work together on their debt problems then you have the basis for what could be the start of an end of the year rally now.
Remember. There are many people in my business that need that end of day print on 12.31.11 to be much higher than it is now in order to get paid. I expect those people to start doing what they can to run the market for the next three weeks or so.
More later.....
<< Home