Weekend Linky Dinks- Higher We Go as the Financials Break Out

Sweet week for the bulls, we saw takeovers in MIL and OSIP, Apple exploded higher just when everyone thought it might find a new home in the 180’s, Europe went to the back page which helped , and commodities and materials all had a banner week. Great depth and breadth, but volume lacked. Who cares. The S&P has almost doubled on light volume.

It looks like the gravitational pull for this market is now the January highs, what happens when we get there is anyone’s guess. Rates are still near zero, so what could derail us? Nothing has hurt this market for more than a week or two since last March. Interesting times.

The financials ( XLF) have finally broken through the $15 number and that in my mind is BIG. The XLF has been up about 15 of the last 18 days. The $15.40 level of resistance is up next, then $15.70, then it can can do whatever it wants to the upside. This liquidity driven market is almost impossible to stop when it gets a bee in its bonnet. Right now that bonnet is buzzing. I also met a down escalator once that looks like VXX and VIX.

Have a great weekend and enjoy the links.

Hedge funds were up 1.2% in February.

Barney Frank on Fannie and Freddie-now he tells us.

Barton Biggs on hedge funds.

Why EQL could be a better S&P ETF than SPY

The full story of Facebook.

60% credit card vig in England.

Will Singapore be the new hedge fund capitol?

Do Kindle owners have IPad envy?

Even dividend stocks are breaking out.

Back to spending what we don’t have-that was quick.

Germany tells Greece to take a hike.