The Phaserl


Higher Highs and the Self-Fulfilling Stock Market Prophecy

from The Daily Bell:

Stocks End Mixed; Nasdaq Misses 4000 … Stocks pared most of their intraday gains to end mixed, while the Nasdaq Composite Index breached 4000 for the first time in 13 years, but failed to sustain that level. Traders said the rally lost its momentum late in the trading day amid thin trading volumes due to the holiday week. “There’s just not much alacrity in the market or conviction either way,” said Gordon Charlop, managing director at Rosenblatt Securities. “It’s got a holiday feel.” – Online WSJ

Dominant Social Theme: Everything is coming up roses.

Free-Market Analysis: Do you really believe, dear reader, that the US economy is booming and the stock market is soaring because things are so good?

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