Despite reports on inflation and the looming Fed increase the dow bounced back 110 basis points today.  I wish the economic indicators were substantial enough to point to more than a sucker’s rally but in my opinion they do not.  Even the WSJ reported the one day upturn in terms of disbelief, “Stocks advanced Wednesday, even though a stronger-than-expected inflation report heightened expectations the Federal Reserve would raise interest rates again at the end of June”

Many downturns over recent weeks came in late trading after a positive uptick.  Today stocks bounced 40 points higher following positive announcements from Boeing, partly pumped by the delay on Airbus A-380s.  Airbus’s parent company EAD dropped 26% yesterday as investors panicked while Boeing rose 6.5% today following a new Singapore Airlines order for 20 Dreamliners.  Overall trading was mixed with as many stocks rising as falling. 

I still can’t see jumping back in until September.