Hi jpgill: Out of state. Not been able to get on here to answer your question before now.
I think the Naz could pull back near term. I'd be cautious. There will be plenty of buying opportunities yet to come. No need to jump in with both feet. Maybe little here, little there on the quality stocks.
This market is great for traders. Playing these swings gives exceptional returns, but it's risky.
I still believe we will zig/zag up. Few steps up, couple back, then up again. I believe the Naz is doing all it can to get to 3000, but we have to hold 2900 first. However, now that the earnings and forward guidance from so many companies are coming out, what will hold the market up? That concerns me going into the second quarter, as it seems so many companies are already expecting Q2 to be down. Consequently, while I am bullish for the year, I believe it will be slow going until the second half.
So, specifically, near term, run to 3000, then pullback. Now I have some doubt 3000 will come as soon as we all thought.
Patience. Be cautious. Stay with quality.
If you're a "good" trader, then you can get rich because this market is giving the traders huge swings to get rich off of, if, like I said, you're good at it.
Take care my Friend.
RR |
