It's Not All Bad( At 12:10 p.m. EDT) This market sure has a lot going against it these days. I don't want to be too much of a drag, but let's review a few of the more recent downers. We'll start with the big rally in the past two months. Great rebound. Still, we have to wonder how much longer that can go. As of last Friday, the Dow was up some 30% since March 9. Then we have more stock offerings every day. Anybody not doing a secondary?
Imagine my surprise when the market opened up. Still there, too. Not a lot, mind you, but it counts. Recently, the Dow was tacking on about 60 points to 8346. Only eight of the 30 stocks were lower, though admittedly they were some of the key components considering the price-weighted nature of the DJIA. IBM ( IBM) was losing 1.4% to $100.80. Both oil stocks, Exxon Mobil ( XOM) and Chevron ( CVX), were falling. Wal-Mart ( WMT) was down 2.3% following its quarterly results and outlook. The worst stock on a percentage basis was GM ( GM), off 3.3% at $1.17. That's only 4 cents, but it had to be pointed out. The good news is the banks were up, paced by Citigroup's ( C) 3.8% gain to $3.54. Outside of Big Blue, the rest of the techs were rising, led by Intel's ( INTC) 2.7% advance. Equities were in a free-fall for so long, culminating in that 12-year low earlier this year, that it looked like better days would never return. Now it seems at least a few folks are afraid if they stay out of this market for too long, they're running the risk of missing the upside, even with all the negatives. If history repeats itself, the day will come when those negatives are outnumbered by the positives. Don't know when. For now though, considering where we were, I'll take a little gain anytime I can get it.