All Pumped Up
It is safe to say that the bulls were more than a little excited by the time the closing bell rang on Thursday. It wasn’t so much that the 800 point intraday volatility had finally gone their way in the last hour. And it wasn’t really about the whispers that Google (GOOG) was going to report strong numbers. Nor was it the pinning of strike prices into the coming expiration. No, it was none other than “Ahhnold” (aka the Governor of California) that managed to get our heroes in horns all pumped up yesterday afternoon.
Despite a host of negatives, the bulls were able to rally around the hope that a positive bond auction in California would be a precursor of good things to come in the credit markets. And then some more Microsoft (MSFT)/Yahoo (YHOO) chatter also seemed to perk up the mood. However, up until ...
David Moenning's Daily State of the Markets: 10/17
