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Stocks rallied on Wednesday gaining back the losses we saw on Tuesday. I guess the Apple warning on Monday was a fake-out because even its stock got back its losses already, despite no news. The Dow gained 116-points and the Nasdaq's large tech stocks just continue lead and climb. Small caps did well, as did the I-fund despite another rally in the dollar, which has been up in 10 of 12 trading days in February so far.

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Stocks were mixed but mostly lower on Tuesday as the Apple's warning sent the Dow reeling, but it did close well off the lows. The Nasdaq managed to close in positive territory while our small caps and the Transports were flat. The S&P 500 was down, as was the I-fund, which has been beaten down by that continued strength in the dollar.

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Stocks rallied late on Friday to push most of the indices from losses to a positive close, although the Dow did lag and close slightly in the red. Investors had been selling on Fridays with the fear of the coronavirus numbers rising over the weekend, but after the first negative Thursday since before Thanksgiving, investors did a little dip buying keeping the indices buoyant once again.

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Stocks produced their second week of gains in the face of the coronavirus which has yet to be contained; but investors seem confident it will be. Stock prices jumped to higher highs this week but the day to day action was choppy and inconsistent. Poor opens turned into rallies and strong opens faded, but the net result were gains over 1% in the U.S. stock indices. Jerome Powell couldn't reassure investors about the projected impact of the coronavirus or the Fed's course of action in response. It ...

So much for a turnaround Tuesday. The negative reversal on Tuesday had created a fairly negative set up for Wednesday, but the market wanted no part of a pullback and we saw stocks rally solidly from start to finish yesterday, and the big three indices all closed at new highs. The Dow gained a healthy 275-points and the S&P 500 and Nasdaq have now been up for 7 of the last 8 days.

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