Nasdaq Attack: You cant keep a good index down. It helps when your components include you know who and so good, bad or otherwise for the overall markets, the Nasdaq keeps calm and carries on, now +ve for 8 of the last 9 days. Defensive and reliable tech sectors are setting the pace while volumes have been relatively light. Thank Chairman Powell’s pending appearance. Stimulus is the number one reason we are where we are, bulls and bears can at least agree on that much. And with concerns about the pending fiscal cliff as unemployment looks set to end next month and no future relief coming from Congress, Powell is the only one that controls the purse strings right now. Speaking of, the market rebound has far overshot the amount of $$ put into the system – does the below look right/feel good to you? Markets are priced for perfection – a scary thought given they are most definitively not…
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