Surprising Strength

The market has built on its early gains, and is putting in one heck of a day. I am surprised that there has been little to no profit taking before the weekend, as often happens.

Some stocks are really bouncing strongly. The brokers (GS, BSC) are acting well, TGT is getting a nice bounce, HANS is spiking to new highs, WMFI is extending its gains, and on and on.

Oil prices are down again, most of the energy stocks are hanging in nicely. Bond yields are also lower, and that sentiment seems to be really helping stocks.

The bears don't look like they are going to be having too much fun this weekend, let alone celebrating Cinco de Mayo!

long GS