the only news i consider important marketwise these days is the privatization of SS. everything else is same-old, same-old, imo.
i'm not one for big conspiracies, but i do believe there are moments where a natural "confluence of interests" can occur without anybody having to actively collude with anyone. as long as privatization is on the table, i have to view the past two weeks as table-setting for a strong ramp. i just can't see Goldman and Merrill letting their guns loose when they're staring at the biggest payday in market history.
when does congress go back in session? and when will they announce the schedule of hearings etc on this subject? i fully expect Dow to make an all-time high going into that.
(for the record: imo the plan as outlined so far will be an unmitigated disaster for US citizens, and that's even before congress gets a chance to put its paw-prints all over the plan.)
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