Everyone seems to think the market is going up from here. The S&P ST and MT CI's hit 100 Friday afternoon (overbought extreme). This, below, is from a link on SI's main page. Such predictions are often wrong, needless to say. (Yes: I know, scare tactics! BS!) The touchy, defensive, fanatical bulls are out in force again. Makes one wonder.
Anyway, the prediction:
siliconinvestor.com
Week Ahead: Stocks to Rise as Mood Lifts
Nov 17 7:53am ET
By Chelsea Emery
NEW YORK (Reuters) - Look for U.S. stocks to trade slightly higher next week as Wall Street cheers improving corporate profits, recent military successes in Afghanistan and growing optimism for an economic recovery next year.
Better-than-expected earnings from tech bellwethers such as Hewlett-Packard Co. have helped brighten the outlook for the battered sector.
Investors have also taken heart from surging retail sales data that shows consumers are flocking to stores -- and buying.
"The market has an upward bias to it," said Edward Hemmelgarn, president of Shaker Investments, which oversees $2 billion in Cleveland, Ohio. "Companies aren't missing their numbers anymore. The news isn't getting any worse and, in fact, it's actually starting to improve." |
