To: ggersh who wrote (90029 ) 5/14/2013 12:10:47 PM From: LTK007 2 Recommendations Read Replies (1) | Respond to S&P 500 heading to 1,900 this year – Birinyi/i excerpt(date of article 5/6/13) i am just giving Birinyi views, nothing else " Laszlo Birinyi, one of the first money managers to tell clients to buy before the bull market began in March 2009 giving target of 1700, btw), said investors should buy commodity and technology shares as the rally enters its fifth year." (i have been searching news on Laszlo Birinyi) But on May 6 he sees SPX500 can hit 1900! this year: he thinks "sell in may" isn't in the cards this year. As usual Birinyi pulls out a bunch of charts(he is huge cycles) " They(The Firm Birinyi is the preisdent and research and investment advisor Jeffrey Yale Rubin also recently purchased S&P 500 ETF (NYSE/SPY) $170 call options that give them the right to purchase the ETF between now and December. The ETF ended the week at US$161.32."“We continue to find it encouraging that after some disappointing (especially to commentators) news in April, including March’s employment report, the market only hesitated for a few deep breaths and is up 3%,” they wrote. “Again exhibiting the resilience which has characterized this market.” Note Birinyi is a fanatic at studying historical charts, he is a near purest charts of charts do the talking. He states market move has been steady and relentless and has avoided extremes of wildly oversold. He states we are entering last stage of rally which tend to end with sharp up move, so he thinks 1900 is possibly(not guaranteed) s the top.But his call purchases reveal he is committed to SPX running significantly BEYOND 1700 before end of year So there it is: we will see how it plays. Birinyi it seems tunes out causes(such as money printing/government proppong)-- a true chartist/ and total pragmatist: doesn't get emotional, ever.(OMG if he got emotional/loud all glas near him would shatter--again i think he had throat damage at somepoint in his life)
