Sunday, October 23, 2011

A Major Bull Leg Has Very Likely Started

SGS is LONG (As of close of 8/24/11) 
RTS 200110825 Long Portfolio (Bench Mark)
On Friday we had good internal numbers for both NYSE and NASDAQ, but trading volume for both markets was very light.  That suggests what we saw on Friday was mostly short covering which accelerated due to "good news" coming out Europe.

Sometimes short covering is the initial phase of a major bull run.  I believe indices will continue to go higher by 10% to 15%  in a very news driven volatile way  between now and Christmas.  My plan is to open new long positions on pull back.

Disclaimer: The views expressed are provided for information purposes only and should not be construed in any way as investment advice or recommendation.  Furthermore, the opinions expressed may change without notice.