Keep Looking for Growth Stocks
Gary Kaltbaum is an investment
advisor with over 18 years experience, and a Fox News Channel Business
Contributor. Gary is the author of
The Investors Edge. Mr.
Kaltbaum is also the host of the nationally syndicated radio show "Investors
Edge" on over 50 radio stations. Gary is also editor and publisher of "Gary
Kaltbaum’s Trendwatch"…a weekly and monthly technical analysis research report
for the institutional investor. If you would like a free trial to Gary’s Daily
Market Alerts
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or call 888.484.8220 ext. 1.
Happy birthday to my youngest son Eric as he turns 12 this week.
I will leave my Paulson complaints for my next report…today…all market.
First…the dollar. I turned bullish on the dollar a week ago because
EVERYONE was bearish. I combined this with its oversold condition…and the
dollar has now bottomed. I have no idea for how long or for how far…but for
now, the tide has turned.
I told you we would get a bounce and I told you we got a follow through day
that turned the market back to a confirmed rally. Nothing I have seen changes
that stance. In fact, Wednesday’s action just confirms the confirmation. I am
now on the great treasure hunt looking for the great growth stocks breaking out
of trading ranges on heavy volume. I do make note that because the market did
not go into a prolonged bear or prolonged correction, the bases are short. I
would rather they be longer but you cant get everything. Just like the dollar, I
have no idea how far the upside goes or how long it lasts. It is now the bears
turn to prove the market will have a ton of downside from here. If the market
starts to get distribution again, I will notice and act accordingly.
Now…don’t get me wrong. This is not a THROW A DART exercise. You need to
know that 70% of the market is still in a bear market. It is just that the worst
have come up off the lows…lifting the floor of the market. You know what areas
I am talking about because I have been talking about them all year.
That leads to the question as to how the market can go up with all the bad
news that is out there. The answer…who cares! Why do I not care? Because I
have seen markets go up on bad news just like I have seen markets go down on
good
news. That’s why I try to pay little attention to the noise. If I really
believed everything the NY Times told me every day, I would have thought we were
in a depression. Warts and all, you should never sell the USA short…of course,
unless there is a guy named Paulson dictating policy. That will be for next
time.
Refer to my last report as I gave you out a good list of leaders. Most are
already popping as leaders stay leaders for a good long time. I also refer you
to my bi-weekly webcast which you can sign up for at my little website…www.garyk.com.
Gary Kaltbaum