The summer rally is on.  The weather is nice and the news is "less bad".  There's a whole lot more bad news that needs to come out before this rally can last.  Look at the Dow Jones chart since mid-March.  There's no way we don't re-test 7000 - 7500 again.  This euphoria might last through summer, but make sure you take some profits before it starts getting cold.  Oil stocks are still okay.

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It is now time for companies to report on the first 3 months of 2009.  Boeing has already disappointed after lowered guidance and GM is headed for bankruptcy even after the government stimulus.  Wells Fargo somehow managed to have record earnings, probably due the fact that they've stopped allowing fee reversals if you call and complain.  The banks are advancing on hopes that Citi and others will report similar profits.  I don't see the rest of the non-banking Blue Chips (large proven companies like Intel, Johnson & Johnson, and General Electric) being so fortunate.  Only time will tell, but this bear market rally could quickly come to an end.  I hope everyone had a Good Friday, because it's not looking like a Good Monday.