I am sure most of the die hard SKEPTICS are scratching their head...especially today.
Expect this rally to go into 7 speed OVERDRIVE.....as bears like Kass & 10,000 others throw in their SWEATY TOWELS & Cover their short position FIRST....and then ....maybe..join this rally.
Everybody from Fast money to very Slow money...have TRIED & FAILED in shorting this market...................they have BIG $ BRUISES to SHOW for.
This BULL is very broad based as I will illustrate with my NEW 52 wk HIGH & LOW list...
This market needs a diverse broad based portfolio......extensive not intensive.....do not concentrate in one or two stocks....spread it into many stocks.....where you will get BETTER BANG for your Almighty $.
So how broad based this rally was when indices barely crept into GREEN..........let us see...so Heeeeeerrrreee is the tabulation :
...............................NYSE...............Nasdaq
New 52 wk HIGH...........350.....................171
New 52 wk LOW............15......................24
HIGH ratio..................23 to 1.................7 to 1
Again strong hand NYSE is picking UP steam and daytraders delight Nasdaq new HIGH not showing the same PUNCH.
So ......I hope you are positioning for stocks to DOUBLE in next 12 months.Some famous names DO NOT have more than 50% moves left.............we all know who they are......but others are POISED for double from here............but we do not care for those as they are NOT SEXY names.
So time to KNOW your stocks well & SECTORS well...............DIVERSIFICATION will get you there by DEFAULT.
Good luck on your OWN due diligence.
We are in Chuck Berry MODE .....lets make $$$$$ AGAIN !!!!
BLOG does not give buy or sell.
Saleem
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