And the Winner Is...

SAN FRANCISCO -- Tough day to preach patience as the Dow Jones Industrial Average rose 0.9%, the S&P 500 gained 1.4% and the Nasdaq Composite rose 3.2%. If yesterday's failure by the Nasdaq to close above 2700 was significant, then so too must be today's surmounting of that level.

I don't have much else to add, as various engagements took me away from the action for much of the day. But I refer you to comments elsewhere on the site about the positive effect options expiration may have had on the session.

And the Winner Is

The grand ballroom of The Palace, a resplendent pre-1906 quake hotel, is packed with the best and brightest on Wall Street, members of the financial press and various "hangers on." There's a tangible buzz in the room. It feels like the first time. Like it never will again ... never again. ...