Today's intra day chart of GS would scare the crap out of me if I were a bear.
Case-Shiller numbers was a wake up call, that housing will no longer be a drag on the market, however it got masked in the crazy market movement.
Today, I find the absolute strength in GS very interesting. Keep in mind, GS was rallying before 1:30, when the EU/China news sparked a market run. With the support from the banks, the SP500 may be able to trade with a normal level of 15 or so.
A market multiple of 15, would suggest individual names would see market multiple expansion to more normal levels, from their currently depressed multiples. Which means there are a ton of inexpensive stocks out there.
Anyone who doesn't like buying after a huge run, look to names like DD or ETN. They still offer a nice dividend with appreciation capabilities toward the end of the year.
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