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Posted By Barry Ritholtz On March 4, 2005 @ 9:47 am In Economy | Comments Disabled

The new jobs data is a terrific boost to the Bullish camp (where I have been since February 2 [1]).  It was strong enough to keep the expansion growing, but not so robust as to force the Fed’s hand.

As I wrote yesterday [2], I am thrilled to be wrong on "the under" this time around. Yields are coming in, oil is softening, and the Dow is closing in on multi-year highs. If we close above those highs — an admittedly big if — that will officially kick off the next major leg higher.

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[1] February 2: http://bigpicture.typepad.com/comments/2005/02/psychology_the_.html

[2] yesterday: http://bigpicture.typepad.com/comments/2005/03/my_expectations.html

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