This bull run is far from over I believe. The strong economic numbers in the US last Thursday ( ie Philly over 20 ) are I think the real catalyst for the next move up. At that point I realized any minor corrective action was over ( probably until New Years ). I saw several stocks that would normally sell off to profit taking on option expiry day actually rise significantly on Friday. This is VERY bullish action. I think we take out the supposed "double top" of 1225 area next week led by technology and stronger financials. I think all the weakness in the Irish banks, Citigroup etc are highlighting just how strong some leaders in financials are. As the weak drop back there are great opportunities with cash flush banks to pick up assets cheap. Yield/dividend players and "buy and holders" will not sell their holdings its obvious from last week. Note however we don't have to right about indexes at all to make money. Simply buy the strong companies with momentum. Stay away from companies with poor balance sheets. Careful about commodity stocks there may be some pull backs.
Hope you are buying the long positions on dips as you have been advocating for the last few weeks. Surely you are participating in these "risk free profits". Tell us about some of your positions/trades and how you see them progressing until New Years.
Risk Free market returns!!!! Tuesdays losses were totally erased just as I thought they would be before the opening bell even rang.
Just for the hell of it, and just in case, I reduced my long position from 90% to 80%, took profits. Thank you!
Okay this morning futures are under a "little" pressure, should you worry? The answer is NO, just another buying opportunity. By the time the opening bell rings the news about south/north Korea and more problems in europe will be forgotten as all the news outlets start to contstsntly repeat video of the long lines of idiotic consumers rushing into stores to buy more worthless items. Buy the dip and make risk free money, remember that Bubble ben bernanke will do anything to keep the markets propped up.
*S&P FUT __1187.80__ -8.69 __-0.72% *DOW FUT __11083.00__ -72.00 __-0.64% *NAS FUT __2141.25__ -16.75 __-0.77% This is nothing but an illusion!!!!!
Well, thank goodness I sold Wednesday what I bought Tuesday! It's Black Friday, let's go shopping! Check out the chicks at the mall!