There is a lot of momentum in the market lately with trillions of dollars managed by hedge funds and institutions that have to make that money work. Institutions can not underperform this market, they have to show they beat the benchmark S&P 500 in percentage returns. And they can't do this if there money is on the side lines or they feel a certain way by staying short the market. As long as there is momentum in the market big money will be buying. But I do agree that the situation is still bad with housing, commercial real estate, credit and wages and job cuts. Momentum is strong and you should not fight it. This point brings me into a trade idea for Oct.
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