Something’s happening. You can feel it. The down days, as painful as they are, seem more muted. The up days show a dearth of supply. Most important: When we get through earnings, we will have plenty of companies buying back shares and, more than ever, it might matter. If there is not much “above,” meaning not a lot for sale, the bulls could really romp. The skepticism is certainly there.
We also had a chance to go to Chicago where I talked stocks with fans of that wonderful town and we took a lot of pictures. We had tremendous crowds, including many grateful Club members, and I always make time to talk to everyone. Here’s what I found: Almost everyone was nervous about the stock market. They weren’t persuaded by Friday’s rally, when the S&P 500 and the Nasdaq rose 2.37% and 2.31%, respectively.
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