Rally Extends Across The Board
Across-the-board rally in stocks, Treasuries and commodities.
A rally? We've already had one.
From last week's bottom:
--S&P: up 12 percent
--Banks: up 45 percent
--GE: up 68 percent
There were also strong, double digit gains in REITs, home builders, and healthcare.
And guess what? After 6 straight monthly declines, stocks up for the month:
Major indices in March
Dow Industrials up 1.6 percent
S&P 500 up 2.3 percent
NASDAQ up 3.5 percent
The key question: is there any evidence of sustained Demand and lower Supply of stock for sale?
Yes, some. Demand for stocks is clearly picking up, while the Supply is getting tighter. At the very least, it appears that the desire of short sellers to Sell Every Rally has been muted.
In addition, the VIX (Volatility Index, a measure of fear) is at a 6-week low.
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