More rooms to grow
(2007-10-09 20:32:23)
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Market advanced convincely amid a lot of doubts and pessimitism. After today, except those perenneial bears, the sentimental should be on Bull\'s side.
The past few weeks has been build for today\'s rally. we had sector rotations to broaden the base of the rally last week. we also had favorable economy news (job, GDP, inflation etc). and today, it seems we have a helping FED as well. Maybe the perfect enviroment is set for the rally.
Sensonality helps too. The forth quarter has been always strongest quarter of the year, and there are evidence that Santa rally has come incresing earlier.
Most importantly, This rally has overcame a lot of adversaries, it only prove the resilence and strength of this market. It is said that the market is the leading indicator for the investor\'s sentiment. If that is indeed true, then, we can expect more sideline money to jump in to chase ever higher stock price, so do not short goog, chinese stocks etc, because, like a wild fire, this thing is going out of control.
Obviously, one can never let guard down. But we maybe able to enjoy this ride for at least another week. If there is no major earning surprise, you can expect the rally continue until the end of the month.
So, sit back and enjoy while you can. life is short, and happy time in wall street is even shorter..