The second quarter began just like the first quarter ended. The market rose on low volume despite numerous geopolitical and domestic challenges. It has been one heck of a run since the Federal Reserve turned on the printing press for round two of quantitative easing.
Since Bernanke foreshadowed the continuation of this program at Jackson Hole during the summer, the market is up over 25% and now sits above where the market stood before the events of the summer of 2008. Given the state of the economy, unemployment, the deficit, the European sovereign debt situation, etc?.that in itself is hard to fathom. Given the Fed still has 200B left to soak up the continued excessive spending of the Federal Government until QE2 runs out until the end of the quarter, the market should continue to grind higher on low volume in the second quarter. However, it is feeling more and
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Vanessa Marcil Rachel McAdams Kristin Cavallari Brittany Murphy Britney Spears
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