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| GREEN ZORO |
Dow Jones really had a very super duper good week. Most major earnings come out good hence boosting the overall market. (with a few exception namely Netflix). Even Amazon & Google whom reached new high before the earnings where announced succumbed to profit taking is now soaring to new highs prior to their earnings announcement.
Tech stocks are alarming strong although their evidence of slowing consumer demand. Heck, this is a bull rally, everything goes. Looks like everyday is a GREEN day. A very bad week if you are bearish, this rally really squeezes your shorts/puts
If you notice, some of the stocks are reaching their 52 week high, something very very bullish. Now even the S&P is reaching the 1,300 once seems to be unbelievable due to the Greece crisis.
In bullish market, any negative news is disregarded. Greece bondholder had to take a hair cut of 50% which were once the rumor triggered huge down-sells prior to this bull rally. Now taking a cut of 50% seems okey to everybody.
Here are the charts for a very bullish period of the US stock market.
False alarm? I am also not so optimistic that share market can continue with their run and economy downturn is just round the corner.
Just my 2 cents!
In the stock market, to be profitable it is best to ride the trend or train :P lol
Agree though, i don't see the economy getting better once the remaining problematic EU nations aka PIGS implodes.