Friends,
Stocks have had two very nice days back to back, albeit on very light volume, but we’ll take it. While we await tomorrow’s austerity vote in Greece, stocks are benefiting from money managers “fixing up” their portfolios before quarter end. We don’t want to make too much out of two good days of trading, and we are a little suspicious as stocks rise while we watch political theatre in Greece. We’ll see what happens tomorrow in Greece (early morning for us) and report to you if sparks fly.
In the meantime, the Dow Jones Industrial Average had a nice 145 point gain on top of yesterday’s nice gains to close at 12,188. The S&P 500 is right back up to the upper end of the trading range at 1296 (we’ve seen this show before). Remember, we are watching a range of 1250 to 1300 on the S&P. We’ll see if we can get through 1300, but we would be surprised considering everything that is going on right now.
We’ll let you know how things go tomorrow. Have a nice evening everyone.
