This TAPE is ignoring all negatives & loving all positives, when was the last time this happened......
I do not recall when TAPE was this "defiant"
This is a clear signal that we have entered a "blowoff" phase......
Blowoff phase is when there is a "straight line upward move"
As we are sitting in S&P 500 @ 1709.67.....an absolute highest close in history.........we are primed for a very quick run to 1800.......
The momentum of this TAPE has caught many participant off guard......it is only going to get worse......
Many are locking gains which in hindsight could be taken as entry point or a point of letting the gains run to its highest potential.........
This TAPE has the feel of a "runaway market"
This TAPE is telling you to close your eyes & wake up in 2014 mid January ......& you will like what you see in terms of gains.........
There is lot of "catching UP to do by millions".......
Many portfolio managers are sitting on a pile of cash waiting for a "correction" which never seems to come.....
Even mom & pop are actively thinking of joining this "gold rush".........
Very rarely that one sees a one way market.......that is exactly what we have.......
Many new sectors are on the verge of "catching a bid"
SO..do not ditch anything but get more diversified in laggards......
It is laggards who are going to take centre stage NOW.....
Strong stocks will remain strong but may lag behind laggards......
Now we are entering "all boats will be lifted" phase.......
This is a "major bull market which has entered a new blowoff phase"
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Saleem
6 comments:
Hey Saleem,
An unexpected all-day excursion kept me from logging in at my usual time. I have now finished and posted my weekly recap/outlook on your Friday post. We share similar overall thoughts although I'm taking it a week at a time :).
Stocktrader
Hey Saleem,
Finally someone takes notice of TCK :)...
07:01 EDT TCK theflyonthewall.com: Teck Resources upgraded to Outperform from Market Perform at FBR Capital
FBR Capital upgraded Teck Resources and added it to the FBR Top Picks list due to reduced capex spending, low cost met coal assets, a solid balance sheet, and leverage to a potential met coal price recovery. Price target raised to $30 from $29. :theflyonthewall
Stocktrader
Hey Saleem,
I was thinking more about FB late last week and over the weekend, and also did some informal market research (asked some 20-30-yr-olds some questions at a family gathering), and have gotten more positive on the name.
In addition to the financial side which piqued my interest after the recent quarter, the informal research I did told me that FB is not losing its "cool" as I might have thought, and it's still the only site that has *everyone* on it. It also hooks itself into many other sites and services through the login feature on those sites. By using a Facebook login to access those new sites, you don't have to create a whole new user profile on the new sites and have to remember a new username/password which is very convenient.
Given the absolute stickiness of the site and now increased monetization of mobile assets, I think the stock could approach $50 by year's end.
Stocktrader
Hey Saleem,
Bought FB @ 38.44 for the reasons outlined above.
Stocktrader
Hi Stocktrader,
Get together / excursion is extremely healthy for rejuvenation.
FB has tremendous stickiness as majority of teens have a burning desire to share everyhing even when "nothing is happening"
Most teens have "identity crisis"..FB gives them an outlet to be somebody....
Good luck with your earnings & portfolio.
Saleem
Hi Stocktrader,
Good luck with FB.....
Saleem
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