Seven Things For The Bulls To Chew On
Market Trend: Short
term up
Market Outlook: A Top of the Trading Range
Decision Point
Peter’s Pick: Cash
The Broad Market Outlook: A
Bear Guilty Until Proven Innocent
“People
are hurting, unemployment is on the rise, anxiety runs high, investment is
chilled, the stock market is stagnant.”
— Tom
DeLay (R-Texas)
Thus goes the Republican
party line for a tax cut. Either
DeLay is right and the new bull market is still far off on the horizon, or
he’s wrong and we don’t need the tax cut. So
what does Mr. Market have to say?
All three major indices (the Dow
(
$INDU.X |
Quote |
Chart |
News |
PowerRating),
S&P 500
(
$SPX.X |
Quote |
Chart |
News |
PowerRating), and the Nasdaq Composite
(
$COMPQ |
Quote |
Chart |
News |
PowerRating)), finished
the week slightly on the upside. Interestingly,
however, the ranting of the “Bulls†(shades of Pamplona) is rising at a
faster rate than stock prices—