My advice for the rest of the year…
Timothy J. Truebenbach is the President of True Capital Management and
general partner of True Capital Partners LP, a hedge fund. He uses a
disciplined model that trades on the intermediate-term time frame. For a
free trial to Tim’s Nightly Stock Analysis Report
The
market remains in a confirmed uptrend. It currently appears to be
consolidating the gains had since mid-October in a healthy pullback.
Several months ago, we spent
some time talking about the historical mirror the NASDAQ is reflecting from
the Dow’s crash and subsequent recovery of the 1930’s. Following that
discussion, we hammered on the importance of the NASDAQ breaking above 2,200.
Both discussions have followed the script perfectly and most investors that
have followed this rationale have allocated their dollars successfully to the
stock market.
Rather than going into
further reasons why everything looks good, running down a list of leading
stocks again and arguing for a Bullish case I would rather do something else.
The last couple years of the
stock market have been nothing short of choppy, stressful and one of the
toughest trading environments we have seen in years. Since the NASDAQ and S&P
500 are sitting at their highest levels since late-Spring/early-Summer of
2001, I figure most of your portfolios are looking better than they have in
years. There is less than a week until Christmas and now is a great time to
FORGET about the stock market and simply digest the goodness of this time of
year. Rather than worrying whether the market will hold certain levels, rally
or decline; take the rest of this week to relax and enjoy where the market
currently sits.
No matter what happens today
in the market, there will always be tomorrow. So take a deep, breath, exhale
and pat yourself on the back for a job well done in handling your dollars.
Merry Christmas, Happy
Chanukah and Happy Holidays!
Talk to you again next week
to take a final look back at 2005 and what is poised to take us higher into
2006!
Tim Truebenbach
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