Here’s Why I Think The Market Is In Gear Again
It’s not what the
Fed said, it’s how the market reacted to what
the Fed said. I don’t think Einstein could understand Greenspan but the market
sure did. Very simply, the Dow and S&P have hit closing highs,
BROKERS popped strong to the upside…and volume
finally picked up a bit.
Except for TECH...which
is now lagging, the market is in gear again.
I like the fact that breakouts picked up again. I
have found HOTEL COMPANIES…
I have found
BROKERS…
I have found RETAIL...
I have found
FINANCIALS…
Needless to say, recent twists and turns have
been tough…but the market, once again, looks like it is resolving itself to
the upside.
Am I surprised? I am almost never surprised by
what the market does…but yes, I thought this time, there was a chance of a
REAL correction…NOT.
Gary Kaltbaum