More bullish news ahead
We are now going to have some more consumer reports and an election in Iran. As for the former, I confidently predict that they will beat expectations because the rising stock market has made everyone but me feel happy and cheerful. As for the latter, the Obama Administration is clearly going to score its first diplomatic victory this weekend by putting its stooge in charge of one of the major oil suppliers - a point overlooked by the bearish part of the financial media. The oil stocks, though, could drop after the Iran election, and the next week could be bearish for the commodities sector (I hope DWI closes his picks in time).