Wednesday, October 14, 2009

Counting our chickens

Apparently, we're so good we can do it before they hatch. As the Dow approaches the magical 10,000 mark (again), we get this from the pros at CNBC:

The bigger story may end up being a better holiday shopping season and continued upside in corporate earnings.

It's mid-October, and we're already calling the holiday shopping season a big success. Maybe, maybe not, but I wouldn't be putting my money into stocks just yet.

Edit, 1803: Bloomberg reports "Sales at U.S. retailers fell less than anticipated in September...". This gets you a Dow of 10,000? We are now in that "bizarre alternate reality".

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