First off, thank you all so much for your much appreciated comments and requests for me to start posting again. I will start to do so shortly on a regular basis, but until then will post on and off.
Right now the market has carved out a very solid range of 1100 to 1150 on the S & P, and is threatening to break to new yearly highs. Today's selloff, if you could call it that, of 15 DOW points was on the lowest volume (easily) of the year. This could be very bullish. It's been the opposite, meaning that on up days the volume is very light and down days bigger.
Having said that, I think anyone who says day to day they can predict this market is kidding themselves. Technicals aren't working great, and this kind of slow methodical trading doesn't do wonders to that many traders accounts. Most of the guys I respect, including myself, aren't rocking the world at all. It's tough to take hard swings here. Having said that, I do believe there are some very good opportunity and risk reward plays here. We've done well with GE, and C and both look to me to go much higher on a breakout to the upside on the markets. I think the downside isn't immense, and the upside could be explosive. Having said that, and yes I am hedging myself here cause you have to in this market, you could just be tying up your money for a long time.
Many stocks are just trading in a tight range, so its important to watch for breakouts and breakdowns. Maybe more so now then in a very long time.
I also like the AGs here if the market stays strong, and watch GNK, they are IPOing BALT this week supposedly and the stock could get a nice pop into that, though holding it over the IPO could prove risky. I currently own all of these.
I think the market is rallying on future inflationary predictions, its why people are dumbfounded as to why the market keeps climbing. Bears have to be very careful playing that disaster game, its proved long term to be a very bad way of trading...
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