Stocks burst out of the gate this morning and the Russell 2000 small-cap index is flirting with its 52-week high. We’ve been anticipating this rally in small-caps and a break (and hold) of the 52-week high of 658 would be bullish indeed.

Remember what I’ve been saying for the last couple of weeks, "Should the index move thorough 620, then 660, I’m looking for a big move higher to 725." So far today, encouraging data out of the U.S. Labor Department and a successful bond sale in Greece look to propel stocks higher toward this level.

This morning’s U.S. employment data release is the main catalyst today. The consensus estimate was for 68,000 non-farm job losses and an unemployment rate of 9.8% during February. Results showed a loss of 36,000 non-farm job losses and an unchanged 9.7% unemployment rate. Both results are better than expected. What’s more, China’s Premier Wen Jaibao came out with a statement that Beijing will continue to control inflation despite stimulus spending. He said that his spending should help the country hit its 8% growth target on the year.  

Today we’re seeing China stocks rally, and several in the Small Cap Investor PRO portfolio are moving higher. We’re sitting on gains like 108% on our China agriculture stock, 74% on our natural gas stock, and 30% on our electronic payment terminal stock.

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