Just another day in this uptrend as stocks close higher on the day recovering from early morning lows. Volume rose on the day showing institutions had an appetite supporting the market on the morning dip. It is truly amazing this market is on, a straight line to multi-year highs from what appeared to a market heading for fresh bear market lows. For now, it appears the market is more focused on the Fed’s printing presses than any country from the European Union defaulting. Stop fighting the trend as it has been very painful for those who have been.

Cullen Roche excerpted John Hussman discussing why he (Hussman) is still in the recession camp, he thinks it is the most likely outcome, and why a 25% decline for equities is likely.

Here are seven (or so) links at 7AM Eastern.  We will see you later with the daily linkfest.  Good luck out there.

It’s pretty quiet out there, volatility-wise.  Maybe too quiet.  (Money Game)

By these measures the market uptrend is intact.  (Ivanhoff Capital)

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Asian-Pacific Stocks: Which Country Is a Bull for 2012, and Which Is a Bear?

Quote of the day

Eric Falkenstein, “ We are nicer, better, less short-sighted, when we have to compete.”  (Falkenblog)

Chart of the day

Lately it seems like every dip we've seen in the market has been quickly bought by folks looking to get more invested and put money to work in equities. With the market down slightly again this morning the question is will dip buyers continue to show up?

Earnings reports continue to garner positive reactions for the most part. The list of stocks moving higher after reporting includes: KO, SWI, HAR, PRGO, TDG, CSTR, APC, and YUM. A couple of stocks lower on their earnings reports are EMR and GSK.

A few comments came in over the weekend asking for my take about when to sell a stock. This is a multi dimensional topic with a lot of variables for each dimension but I will try to cover a lot of ground. Keep in mind this is what we do for client accounts, you may want to do things very differently. I can't say what is right for you, only what we believe is best for our clients. Most of these will be examples of trades we've done and why.

March S&P E-mini Futures: Today's day session range estimate is 1330-1340. The longer term trend is upward. A rally from the November 25 low at 1147.50 which matches the size of the October rally would bring the ES to 1370.

QQQ: Headed for 63.

TNX (ten year note yield): The 10 year yield has started a move to 2.50%.

There is a new “Strategic Allocation” category in the list above that collects posts related to selection and weighting of asset classes for long-term diversification benefits. You May Also Enjoy...

March S&P E-mini Futures: Today's day session range estimate is 1329-1340. The longer term trend is upward. A rally from the November 25 low at 1147.50 which matches the size of the October rally would bring the ES to 1370.

QQQ: Headed for 63.

TNX (ten year note yield): The 10 year yield has started a move to 2.50%.