How do you say broadbased? Banks and oils? Techs and drugs? Defense and fin-tech? I mean sometimes you have marvel at what's happening on your screen.
Drivers: We cannot forget how important Warren Buffett is to this market. Time and again he has expressed how stocks are good value versus bonds. Today's statement that 2.4% going to 2.9% by no means makes stocks less attractive really told the tale. He is just plain good for the markets by reminding you how weak the alternatives are, including trading! Even better, of course, is the chatter that the bond bear may have reached its peak. I doubt it, but putting it out there, because we are hearing it from multiple places.
HP Inc (HPQ) -- as I indicated earlier this story about demand away from cellphones is one of the most tech stories out there. The pin action off something good in PC's is gigantic, from Micron (MU) and Lam (LRCX) to Best Buy (BBY) and Applied Materials (AMAT) .
I can't see why exactly the banks are moving up but who can't notice the fintech rally. I guess Visa's (V) been forgiven.
Oil back to $64 has let some oil stocks have a run. It remains a real bad segment in my opinion but it can lift. It's not dead.
FAANG. What can I say? Apple (AAPL) gets a strong push from Buffett. Same with Amazon (AMZN) . Alphabet (GOOGL) doing better with YouTube.com TV. Facebook's (FB) Instagram benefiting from the Snap (SNAP) turn off.
Just a lot of good around.
Remember, we will be overbought. That's been the bane of the existence. We collapsed after an overbought spike a month ago. Lots of people still expect a retest after a plus 69% retracement. But the VIX is tame to lower -- thanks, Warren -- and the buying reminiscent of Mondays of 1990s yore.
