Sequestergaddon II - Stocks rise on Day 2 of Sequester

Similar to Day 1 of Sequester, stocks were up across the board Monday on the 2nd Market Day of Sequester being the law of the land.  In fact the Dow Jones Industrial Average is less than 40 points from an All Time High!  And the markets all closed on the highs of the day.  Sequester = Sigh

After languishing in the morning, the Dow Jones industrial average managed to gain nearly 0.3% for the day. The Dow is now less than 40 points away from its all-time closing high and only about 70 points below its intra-day high. Both records were set in October 2007. The S&P 500 rose nearly 0.5% and is also within striking distance of all-time highs from October 2007. The Nasdaq added 0.4%. "The March spending cuts came and went, and the world didn't end," said Joe Bell, senior market analyst at Schaeffer's Investment Research. "It's encouraging to see the market shrug off things that could perceived as negative." For weeks, investors have been bracing for the $85 billion in across-the-board spending cuts, known as the sequester. The cuts, which will hit a wide array of federal agencies over the next weeks and months, came into effect March 1 after budget talks in Washington broke down.