New all time highs continues in US stock market.....

 US stock market continued its bull run by making series of new all time highs in S&P 500 and Nasdaq.

DOW is only 150 points away from making new all time high.

All this bullish phase in US stock market accelerated when Fed Chief played down fear of imminent taper and higher interest rate.

From Friday @ 10 AM...rally was ON.....

All Indices closed near high of the day.

It was interesting to see that reopen trades are catching bid also.

Friday and current rally is extremely broad based with most sectors participating.

Until Friday of coming week, it will be smooth sailing with DOW also joining the rank of series of new all time highs.

Friday is jobs report which should exceed expectations again, focus will be on wages with inflation in mind.

As far as Fed is concerned inflation target is met but jobs are 9 million short of target.

Many reopen stocks has a long way to go as they have lagged badly and is still far far away from their all time highs.

It is highly recommended to overweight reopen trades and stay with it with patience and conviction.

Besides Airlines, Cruise lines, Energy stocks are the biggest bargain and must be overweight in every portfolio.

With travel and driving in focus for Labor day weekend, use of energy should jump.

Category 4 storm landing in oil belt should also help oil prices.

Technology remains strong as they keep moving up in a steady format, some semiconductor & equipment makers are off their highs and present a good opportunity to profit from chip shortage.

All in all we are looking @ great investing climate going forward.

Good luck with your own thesis and comfort level.

BLOG does NOT give buy or sell.

Saleem