Archives for June 2013

Where Did the Bulls go?

I did not like the action today to begin the new week. After Thursday and Friday, the bulls needed to hold serve and not let the bears see any weakness. Monday and Tuesday saw the bears take over and that does not bode well in the short-term, even though the stock market is oversold. More caution is warranted.

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Bears in Full Attack Mode

Just one week ago, all the talk was about Dow 16,000 and even higher. They said the year was just like 1995. HA! Years like 1995 come along once every investment cycle, almost like we saw in 2003. The major indices were solidly red today for the second time in four sessions. Contrary to popular belief, trees don’t grow to the sky and neither do stocks! So far, this is an orderly and healthy pullback that should max out at the 10% level. Buying the dips remains the strategy to use until proven otherwise. I do NOT believe the bull market is  over yet!

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Bears Still Fleeing Bonds et al

It’s been a relentless assault on the bond market and other interest rate sensitive instruments of late. Treasury bonds, mortgage backed securities, high quality corporate bonds, junk bonds, utilities, REITs have seen intense selling pressure that has only paused for a day here and there since late April. Telecom, REITs and high yield bond mutual funds all hit our sell triggers last month and it certainly feels like consumer staples mutual funds and a few more bond ETFs aren’t too far behind.

I do NOT believe the bull market in stocks is over, but leadership has and is changing.

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Apple Is Still Vulnerable, Could Test $250 in Bear Market

A familiar and often controversial topic over the past year or so has been my very negative forecast for Apple. As you know, we do not buy or sell individual stocks as part of our investment strategies but used to view Apple as THE market leader and now a bellwether stock.

Long-term, nothing has changed in my view, but I do think a potential rally is setting up that could take the shares into the mid $500s. I will discuss this in more detail in the next issue of Street$marts shortly.

Below is the interview I did with Matt Nesto at Yahoo Finance as a follow up to previous Apple segments.

http://finance.yahoo.com/blogs/breakout/apple-still-vulnerable-could-test-250-bear-market-131541939.html?vp=1

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