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.
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.
