Dow jumps to another high, closing above 12,500.....NICE !!!!

Dow making highs repeatedly, @ close Dow stands @ 12505.99...this was the level back in May 2008.

As any technician will tell you that new highs gets series of new highs.

Try not to predict a top in any strong stock or market, as long as you are diversified you could get maximum gain in your portfolio.

Since we have been basing since Feb 2011, we could be in a major run in markets.

IF you have been monitoring closely, many strong stocks are making new highs daily.

Earnings have been way better than many expected.

Hedge Funds, analysts pursued their shorts agenda since Feb through their proxies on CNBC.Everything was suppose to go downhill due to Middle East,Japan & Europe ......but after series of earning reports...CFO are saying what issues?

Even many companies whose earnings report were bad are seeing their stock move UP..a classic example is JNPR..missed on everything by wide margin BUT it keeps going UP daily since ER.

Many not so spectacular ER from RVBD,FFIV are being greeted as "exceptional" by TAPE...

When TAPE rallies stocks of lackluster ER or bad ER..then you can RELAX & KNOW that it is a "major bull market"

Many stocks are rallying from lows on a daily basis, which means that you can "almost" buy any strong stocks on minor intraday pullbacks.....another sign of TAPE turning on a dime.

RSI in Indices are as follows :

S&P 500 60.11

Nasdaq 62.50

Dow 62.93

In a bull market all indices are in sync as evident from RSI......

SO..IF you want to daytrade or play ER game ...then go with popular stocks as they tend to get lot of leeway from traders...do not jump ship AH...it MAY be a different story next morning.

Next week ER has NFLX on Monday, BIDU on Wed & POT on Thursday to highlight few names....please check earnings calender of stocks in your portfolio.I expect all of the above names to have earnings which should please traders.

Bottom line is , you were  PRUDENT to brave orchestrated selling by HF & Bears.....but NOW they are the ones chasing every stock to cover or buy.

We have many good days ahead in markets, Monday should be another strong day where record highs in S&P 500 & Nasdaq are in the cards.

Good luck with your OWN homework & comfort level.In a strong bull market many "boats are lifted"

BLOG does NOT give buy or sell.

Enjoy your long weekend with friends & family.

Saleem