Written by d_walter on May 28, 2010 – 11:15
I think it is. We had a huge reversal yesterday off the bottom of a few days ago and we’re entering the seasonally stronger months of June and July.
Expect some back and forth consolidation over the next few days with the next major move to the upside. I’m not ready yet to put new money into equities, but I expect that over the next couple of weeks things will have stabilized enough to start getting more bullish again.
Keep in mind that this is no longer your grandfather’s or even your father’s market. Computers doing the bidding of hedge funds and quants now account for a good part of daily stock trading volume. Economic fundamentals appear to be improving and this should be bullish. However, the rise of the machines keeps us on guard until volatility dies down.
Cool, You certainly deserve a round of applause for your post and more specifically, your blog in general. Very high quality material.