Last week & next week TAPE......

Last week saw a quick pullback for 72 hours as anticipated. We saw the following TAPE action from Monday to Wednesday :

S&P 500 High 1798.22 Low 1777.23 pullback of 20.99 points or 1.17%

Nasdaq High 3994.97 Low 3911.61 pullback of 83.36 points or 2.09%

It is important to go back & check your own expectations in terms of actual TAPE action, i was very worried about over confidence & saw a reality check by TAPE.....as this pullback was quick & intense in Nasdaq, we got the "froth" out of the way in a hurry. This pullback was NOT triggered by anything except "too few bears"......NOT a news driven but "technically driven"...one needs to watch these things in future also.

OK...where we go NOW ?

As S&P 500 has broken out & closed @ all time high, it IS extremely bullish. I see an easy jump to 1860 area which is a jump of another 55 S&P 500 points or further 3.05%.....then we will evaluate as to sentiment or strength.

We are entering month end buying, i am expecting a fast paced move UP in TAPE.

After month end buying we are entering the-most bullish month of the year which IS December......we may be looking @ next few weeks as the most spirited buying for year end positioning & performance run.....

It is highly desirable to be overexposed in your allocation & aggressive posture should be rewarded.

I cannot recall any other time since 1999-2000 year end to be so favorable for equities.

SO...stay with your stocks & keep adding until you have full allocation...this rally may continue till first week of January in celebration of Christmas & New Year of 2014.....

Good luck with your portfolio as "stars are all lined up favorably"

Please keep in mind that we are open only 3.5 days as Thursday is closed & Friday we close @ 1PM....

BLOG does NOT give buy or sell.

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