Ask a sewer worker (Ed Norton?) about his job and he says it is full of, well, you know. But, it's honest work. That's not how I feel on Wall Street when I see juxtaposed headlines like this:
• Optimism returns to supermarket aisle
• Grocer Safeway shelves recent pessimism
These two were stacked just like this on MarketWatch. So, optimism returns but Safeway is just less pessimistic. At least I get the "job is full of, you know," feeling.
Do we buy grocer stocks? Of should we just rush out and buy food since demand is coming and we don't want to pay high prices?
How about that chart of Safeway?
Looks to me that the market restored optimism back in October when it smoked through its 200-day average. Now? How about this weekly chart?