Don't look now but the S&P 500 is now down less than 9% year-to-date and the short-term bias is clearly higher. The end of the world crowd is still being kept out of the party.
I still haven't heard anyone call this the Obama rally but that's probably right around the corner.
Windy Joe Kernen just went on a rant about how the government doesn't create wealth, which I happen to agree with.
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