/Quick Point/ – Today’s Score: Bulls 2, Bears 0
Forget Bernanke and the Federal Reserve. The real news today is what drove the stock market up this morning.
The Wall Street Journal’s mid-day article says it all…
“NEW YORK—The Dow Jones Industrial Average rose to its highest intraday level in more than two years as investors were encouraged by rising sales in the retail and business arenas and improving sentiment across small businesses.”
(Today’s Markets, “Dow Touches Two-Year High,” by Donna Kardos Yesalavich, December 14, 1:14 PM EST)
So… Gone are the bears’ dismissals of good corporate earnings because sales weren’t rising. Likewise, their forecasts of small businesses remaining hopelessly mired down. As the “bear case” loses its foundation, the “bull case” gains strength.
/Quick Point/ – An observation relevant to current investment trends and recent Investment Directions’ articles.
