Jesus C. Bananas: Another 100+ Gain in the Dow
For lack of a better term, Jesus Christ Bananas! The Dow has once again posted another Triple Digit Swing to the upside and the reason for the gain:
Hubbie-dub bubbie-dub, loopity-bobbity-doo!!
Seriously, the rally is all thanks to the media hyping the global economic comeback as Australia raises rates.
Congrats longs, its your day to cash in. NEW YORK (Reuters) - U.S. stocks gained sharply on Tuesday after Australia became the first G20 country to raise interest rates since the onset of the financial crisis, and on optimism for a strong U.S. earnings season.
The rate hike by Australia's central bank was taken as a signal the global economy was recovering. Equities were also lifted by gains in commodity prices as the U.S. dollar fell against a basket of currencies.
"The Australian central bank painted an extremely positive picture of the global economy moving forward ... about how good the Chinese economy is doing and how economic activity is picking up worldwide," said Stephen Massocca, managing director at Wedbush Morgan in San Francisco.
"It legitimized those that have been calling for a vigorous expansion of the economy."
Rob Schneider is also about to become Wall Street Executive, with everything going for him, durpity, durp, da drup dee derp. Think the rally will last? Carrots, bananas, its time to sell.
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