We had some selling this morning but the buyers charged in after some comments from Fed Chairman Ben Bernanke. The bulls concluded that the Fed was determined to keep on pumping until the jobs market picked up steam in a few more years. We ended the day at a new high, and once again have crushed all doubters. We also had a serious move in gold today, which hints at further inflation after Bernanke’s comments. This makes for an interesting setup for the jobs news tomorrow. Market players aren’t particularly worried about a bad number since Uncle Ben just confirmed the FED put and the bull case is that the trend in employment is improving on pick up in economic activities. On a side note, Apple may get some press tomorrow from analysts covering the iPhone, the News Corp. iPad app and the preview of iPad 2. This may cast a halo effect on the top Apple suppliers.
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