And The Chase Is On

A few days ago I said I wanted to see a successful Greek bond offering and the jobs report out of the way. Yesterday, the Greeks successfully offered bonds and in an hour the jobs report will be out of the way. Once those worries are out of the way people will be free to follow their primal instinct and chase the herd (after the market is already up 7% in three weeks).

I expect this move higher to finally lead to a correction. Normally after an extended run like this one I would expect a jobs report to lead to a pop and drop. What makes this run different is that investors never really embraced the market so I would not be surprised if this final move higher lasted a few days.

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