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MV Weather Report: Bulls Shake Off CIT Storm

  |  Minyanville
Posted: 07-16-09 05:00 PM

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Minyanville:

This has been one monstrous week for the market as the S&P 500 rallied for the fourth day in a row. Investors shook off the unfortunate CIT Group (CIT) news; no one covers the demise of a financial institution quite like Minyanville (see here here here and here). Three possible scenarios for today’s rally are: Earnings have been better than expected an options expiration squeeze and retail investors chasing. The first one is the least likely as a lot of stocks have been bid up after Intel (INTC) and Goldman Sachs (GS) -- this was the reason for the ...

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