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Where to From Here?

February 6, 2013 – 6:05 pm

stock-marketWith the best January for the stock market in over 20 years behind us we look forward to February. The first few days have been sharply more volatile. Is that a sign of a top or a pause that is normal for reaching multi year highs for the indexes, thus gathering steam for the next run up?

Different factors are saying both. Corporate insiders are getting aggressive in selling their shares which is a good indication that they feel the market is due for a correction. At the same time we are in the best time of the year for stocks and the economy appears to be picking up. Though it is not strong by any measure, it is a positive for stocks. Add to that good earnings and good earnings projections for the rest of the year and the market has a reason to keep rising.

Of course there will be a correction; there always is. It is not a correction that anyone should fear. The fear is when and where will the next bear market come from. The bear seems to be hiding as the bull rages. Then again, January just might have been too good to be true.

Good Trading
Steve Peasley

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