Well Above Average at 2005-12-04 19:53:37
Good morning. Premarket futures are positive as investors mull the jobs report which reported a rise of 215,000 jobs.
Now with that report behind us and Dow 11K is within spitting distance, will the bulls have enough power to push us higher? As the following chart shows, this 4Q rally is already well above average as money inflows increase to the best levels of the year.
Unlike previous moments in the past year when sentiment surveys showed a high level of optimism and the money flows didn't increase, it is clear that people are putting their money where their mouths are and are buying stocks again. Some have opined that speculators are moving from real-estate back into the market and there is some evidence to support that view.
Meanwhile, we have the hedge fund pros juicing the market to meet their numbers while the herd adopts the view that you can't lose buying stocks in December. Still, I think Mr. Market will have a few surprises up his sleeve in the weeks ahead. No matter how great everything looks, just remember the market never offers a sure bet no matter what arguments you read or hear. Don't let your guard down.
Have a truly wonderful and productive Friday!
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