Rally Comes at a Tough Time

 | Apr 09, 2014 | 6:20 PM EDT  | Comments
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Well, there's always General Motors (GM), AT&T (T), Wal-Mart (WMT), ExxonMobil (XOM), VF Corp (VFC), GrubHub (GRUB) and King Resources (KRFG).

Those are the only stocks on my screen that were down on the day. I think all but the last two will get pushed tomorrow, the latter only being left out because banking analysts have to wait for a month before initiations.

This was truly a broad-based rally that comes at a tough time for the market because we are about to get earnings from the banks and I don't know a soul  who thinks that we will see any good quarters from this group. But the setup was really good until today because the group has been such a drag of late. Never underestimate the ability of this group to be a buzz kill. Let's hope they go down tomorrow.

Otherwise, I keep coming back to that conference call that Alcoa (AA) gave us, the one that said we have real industrial bull markets going on. I think that the truck and aerospace and auto analysts will be out in full force tomorrow bulling their groups.

Why not?

They've done nothing but go down or do nothing.

It's their time.

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