Russell 2000

European and Asian stocks rose after the early scare from the latest Fukushima quake dissipated when all Tsunami warnings were cancelled. The global risk on mood was spurred by another jump in crude, which was up 1% in early trading, with the commodity complex now enjoying its biggest three-day rally since May, after Nigeria signaled optimism that OPEC will agree a supply-cut deal next week in Vienna. S&P futures are up 0.3%, with the cash index set to open at new record highs.

One. Big. Squeeze...

Everything must be awesome...

Collapsing currencies, bond bloodbaths, soaring cost of funds, and crumbling crude... Fuck that! Stock indices are at record highs!!!!

Some context for the recent moves...

Via Dana Lyons' Tumblr,

A key index of biotechnology stocks may be approaching significant levels of resistance.

We are now in the worst seasonal period for stocks.

The old adage “sell in May and go away” does have some merit. According to the Ned Davis (NDR) database, had you invested $10,000 in the S&P 500 every May 1st starting in 1950 and sold October 31 of the same year, your initial position would only be worth $10,026 as of 2008. Put another way, by investing only from May through October, a $10,000 stake invested in 1950 would have only made $26 in 57 years.