Are we all set to take out April high of 1422.38.....YES we CAN !!!!

SO..here we are on Aug 3rd of 2012, S&P 500 sitting @ 1390.99.


There is no QE3


There is NO Draghi shock & awe

World economy is hitting the lowest point since 2009

Spain & Italy still under severe stress

Greece willing to say yes to any condition for "staying alive"


BUT S&P 500 keeps chugging along ?


Many simplistic analytical tool is telling you to hide in cash, as there is "no sign of hope from "Draghi to Bernanke"


Simple never makes it in real world ever......


Those who made it to the top were "not looking for ideal condition"


"Those who fight adversity, succeed in the end"


But on Wall & Broad, trader make it big when dealing with "negativity & hopelessness"


That is known as "contrary indicator"........


Wall Street generally projects six months out, which in today's term is "February 2013"


IF you can project that far, then you can "see the light @ the end of this economic tunnel"


We may be looking @ above 3% GDP growth in US, Canada.....


Our favourite economist Roubini & Rosenberg were calling for "recession" in US which spooked many investors. Facts never backed this theory.


Many CNBC "know it all are predicting hard landing in China" which further erodes investors confidence.


SO Wall Street, true to its reputation of being "smarter than all pundits put together", is marching to its own drum. It is sitting only 32 points away from making a "new 52 wk high"....


I have a strong conviction, that we are looking @ best August in a long time, where series of  new 52 wk highs could be in the cards.


Can we go near 1500 in S&P 500, please do not bet against it.


BLOG does NOT give buy or sell.


Saleem