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...P 500 is up 25% in just over three weeks. Many analysts say that there is no reason that the run-up should be so sharp. The rally would be more "sustainable" if the climb was gradual and slower. That is probably true. Cautious investors are inclined to sell stocks that move up quickly to lock in profits. They are afraid that the market can't go up forever. Those sentiments undercut future advances in stock prices. (See pictures of the Top 10 scared traders...
...good news is about the chances that the financial markets can be fixed. Most of the bad news is likely to be that unemployment is getting worse. With a balance that delicate, the stock market needs every one of its major sectors to keep up if the S&P is going to be up another 25% by mid-year...
...Another critical pillar of the market is tech because it now represents such a huge part of the national GDP and the market caps of companies like Microsoft (MSFT), HP (HPQ), Cisco (CSCO), and Intel (INTC) make up such a significant part of the weighting of the S&P. For the most part, tech has done as well or better than the broader market over the last month...
...consumer spending has stopped falling, the housing market has begun showing some signs of bouncing along a bottom (not so much in prices yet as in sales volume), and manufacturing's free fall has moderated somewhat. The stock market has of course been on a tear, with the S&P 500 index up 20% since early March. But while the market is a leading indicator, it can be an extremely unreliable...
Venky will be succeeding John P. Holdren, who is currently on leave to serve in the Obama Administration as the director of the White House Office on Science and Technology and as the assistant to the president for science and technology...