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Nadeem Walayat Financial Markets Analysiis and Trend Forecasts

Stocks Bull Market Continues to March Ahead towards Dow 14,000

Stock-Markets / Stock Markets 2010 Apr 22, 2010 - 06:22 AM GMT

By: Christopher_Quigley

Stock-Markets

Best Financial Markets Analysis ArticleThe upward pulse of the bull trend that commenced in March of 2009 continues to forge ahead with considerable power. Both the Dow Transports and the Dow Industrials gave new buy confirmation signals last week. That this happened in the middle of an earnings season is most encouraging. Thus it would appear that the probability of the Industrials hitting the 14,000 level without significant difficulty is high, allowing for the odd pullback.


I have advised momentum clients to watch the Direxion ETF’s in the Real Estate and Technology arenas. These particular ETF’s give “triple bang for the buck”. I favour ETF’s for this type of trade because it removes a lot of company specific risk and allows one concentrate on market trend. Once you get your entry position right the key is to stay with the trend until you get a technical setback. The Direxion Real Estate vehicle is up 50 % since early March the Technology Direxion Unit is up 60 % since February. Not bad. Not bad at all.

I am glad the dog days of 2008 are finally over. But this is not a time for complacency as there is a lot of ground to be made up. I did not make a single trade in 2008 due to the technical collapse of the market in November of 2007. And while 2009 has been spectacular who knows how long this bull trend will last.

A lot of people have sent me emails concerning Goldman Sachs. While the ongoing fraud investigation will affect Goldman I do not believe it will adversely derail the current bull trend in banks. In fact if the financials pull back in sympathy I recently told a colleague to see this rout of Goldman as an opportunity to allow accumulation for the next leg up. He specifically liked Citi Group (Ticker: C). I concurred. This stock could go all the way to 20 dollars over the next year, once the current panic clears.

By Christopher M. Quigley
B.Sc., M.M.I.I. Grad., M.A.
http://www.wealthbuilder.ie

Mr. Quigley is 46 years of age and holds a Batchelor Degree in Management from Trinity College/College of Commerce, Dublin and is a graduate of the Marketing Institute of Ireland. He commenced investing in the Stock Market in San Francisco, California where he lived for 6 years. Now based in Dublin, Mr. Quigley actively trades utilising the principles set out in the modules above. This Wealthbuilder course has been developed over the last 9 years as a result of research, study, experience and successful application.

© 2010 Copyright Christopher M. Quigley - All Rights Reserved

Disclaimer: The above is a matter of opinion provided for general information purposes only and is not intended as investment advice. Information and analysis above are derived from sources and utilising methods believed to be reliable, but we cannot accept responsibility for any trading losses you may incur as a result of this analysis. Individuals should consult with their personal financial advisors before engaging in any trading activities.

Christopher M. Quigley Archive

© 2005-2019 http://www.MarketOracle.co.uk - The Market Oracle is a FREE Daily Financial Markets Analysis & Forecasting online publication.


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