1/24/07 a brief discussion on watchlist was shared which included:
1/24 - 2/2
MAR 47.13 - 49.02 +4%
HLT 35.95 - 36.58 +1.7%
BLUD 32.2 - 32.2 ----
BMC 34.45 - 35.26 +2.4%
The point is, a rising market lifts 75% of all boats (stocks). The market is making 6 year highs and many stocks are making new highs. I was asked how long I thought the bulls would rule? My response was who knows..... It's a mistake to try to contain the markets to any analysis which will always be too simple to describe the compelexity of the market. It's best to let the charts tell you when the bull is done. Also consider the nature of the market. We will get a pull back as profit takers put a little in the bank, but the bull market should survive that. This is mentioned because many buyers that buy now will be shaken out but this profit taking. It's important to get long in a bull market, but at the right time. Now is the time to take profits where you can and hold your positions knowing that a normal retracement will be coming.
