CHART OF THE DAY: THE UNSTOPPABLE MARKET
Courtesy of The Pragmatic Capitalist
Lord help you if you’ve been short for the last 4 weeks. Over this time period, stocks have risen on 85% of the days and the market has felt entirely invincible. Small dips are quickly gobbled up by aggressive buyers. I would argue that this has been the most impressive portion of the entire 70% move from the lows in March 2009. Stocks have surged 8% (that’s a 96% annualized rate for those keeping track) in less than 4 weeks as the market has risen in 22 of the last 26 sessions. Impressive might just be an understatement.
