The Dow Industrials and the SP 500 were pushing to new highs today, and they were breaking out the 'Dow 17,000' caps and halter tops on bubblevision and its clones.
Volatility fell on weak economic news as stocks soared to kick off the start of the third quarter. Non-Farm Payrolls on Thursday.
In a parody of the new TV series Silicon Valley, Google bought a streaming music company tonight, matching (a polite way of saying 'copying') Amazon and Apple. I suspect that these companies are buying these other companies with a debased currency, eg. their own stock.
I am starting to become more interested in the short side. I suspect we will see some sort of short term flush in the not too distant future, in time to do a wash and rinse ahead of the even of the year, the IPO of Alibaba presumably on August 8.
Have a pleasant evening.
