Indices all set for new all time highs.......

Despite bearish conviction by many well known "experts", market has ignored all of them and  is marching towards new all time highs.....what a learning lesson for "experts"

Here is where all indices are sitting and where they need to go to make it in record book :

S&P 500 @ 2116.10 needs to go to 2125.92 only 9.83 points away

Dow @ 18,191.11 needs to go to 18,288.63 only 97.53 points away

Nasdaq @ 5003.55 needs to go to 5119.83 only 116.29 points away

S&P 500 & Dow could get to new all time highs on Monday IF Greece is not causing trouble for Euro land.

Nasdaq may take about 4 good days to get to new all time highs, can you imagine Nasdaq being laggard?

Only trouble i see with this TAPE is our famous CMF, which is barely green in Dow & S&P 500 but actually red by -0.028 in Nasdaq...this is troubling...no highs are made in these conditions.....we shall see IF it turns UP or this indicator has lost its meaning due to High Frequency Trading by Supercomputers.......


I like to suggest that you make a list of stocks to buy and stick to plan, IF you are fully invested then stay with those stocks IF they are working, strong stocks needs to be in focus NOT laggards.

We are in a very different market than what we had since  June 2009, this is a market of stock picking and sticking with them, patience and conviction is key here or you will be shaken out of your strategic approach.

SO...revisit your portfolio and see IF you have stocks which you can stay for 2 years, if NOT change your stocks to reflect new realities.

Good luck with your "new & improved stock picking"

BLOG does NOT give buy or sell.

Saleem

Posted in: Mixed