NEW YORK (Real Money) -- Is it the Warren Buffett halo, the recognition that all isn't so bad in the world that's driving stocks today? Is it the percolation through the market that perhaps the dollar has topped and we are through with the earnings cuts? Or is it that we've got a huge amount of interest in high-growth stocks buoyed by positive news flow?
I think it's a bit of all three -- Buffett, dollar top and high-growth affection -- that have resulted in this move up, the best back-to-back days since February, at least for the moment.
Here's Monday session in an understandable context.
In homage to the weekend's event, though, perhaps it's worth it to ask first why it's worth the effort to try to figure out the intricacies of a given session's action? I know that the Oracle of Omaha disdains the day-to-day obsession with how stocks move. I can see, therefore, how even creating a narrative that weaves the day's action into some sort of sense can be viewed as antithetical to the common-sense continuum that Buffett offered. As he told everyone who would listen, he likes to buy shares in companies that he knows and likes and he likes to buy them at his prices.
I applaud his reasoning. I also endorse his long-standing view that if you can't do the homework, you should buy index funds to have exposure to the progress of American business. That said, though, I know way too many fortunes that were made in similar but less spectacular ways by people who put things into context and invested accordingly and used the context to get those prices that even Buffett admits he likes.
If Buffett wants to take advantage of what the market gives you in order to add to his holdings at his prices, there's an imperative to know the whys and wherefores of a given day's activity if only to understand why you get those bargains and opportunities.
That's why I think any attempt to make sense of an individual session creates value. It's a response to what I regard as an unmet need, the need to help people who are going to buy stocks with their extra income after they put their money into the mutual funds and their 401(k)s.
I get daily support for the job I do, whether it be a sweet tweet of gratitude or something more heartwarming, like the kid who stopped us while the Mad Money team was having a celebratory margarita after our San Francisco shows, telling us that our multiyear insistence on owning Apple (AAPL), not trading it, has more than put him through school, it has made him wealthy.