Thursday, April 29, 2010

Another Big Gap Up

I think that was it for the correction.  It came and went, and we're probably going to go higher from here to retest the highs.  It was just another buying opportunity.  This market needs to go higher before it can have a substantial pullback.  There are still a lot of sidelined investors looking for a pullback or for the all clear sign to jump in.  The big picture is clear.  We are in a cyclical bull market and the cycle is not finished yet.  Sure there will be daytrading short opportunities like earlier this week, but the trend is up.  The Fed wants to blow another bubble.  Today will probably be a gap and go and we'll probably test 1206.

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