A lot’s happened, including Cindy Sheehan retiring from the peace movement and a terrorist bird shitting Bush. Good birdie.
Market update: 2:00 AM NYC time, May 7th: Just a quick post to note the fact that if the recent new highs various stocks and indexes mean a bull market extension it is likely to be the speculative phase, which would be marked by some spectacular blowoffs to the upside, as momentum built, fanned by some forced liquidation of short positions, like gas onto a fire.
Just compare the charts of Amazon.com Inc. (NASDAQ: AMZN) and Rackable Systems Inc. (NASDAQ: RACK) to see. AMZN (above) and RACK (below).