Is it time to deploy cash? No!
Today is euphoria. So, just enjoy the good feeling. If this is the real bottom, there will be time to catch up tomorrow or Friday or even next week. There will be some sort of bad news out of Europe that will catch the market by surprise. Ten days is a very long time!
While you’re enjoying the good news in Europe, savor this morning’s ADP report, which indicated 206 thousand jobs were created in the U.S. by the private sector last month, much more than expected. After netting out government layoffs, Friday’s all-important Jobs Report by the Department of Labor might be less unpleasant, for a change.