The steady climb in the market indexes have not shown any exuberance. Today, the consumer confidence report showed a 17 year high. Investor sentiment has not changed, the slow steady uptrend remains in progress. This is allowing specific stocks/sectors to perform well both on the bullish side as well as some on the bearish side. Stay predominantly long but keep protective stop’s in place. Although there is no signs of any selling pressure, once it starts, everybody is going to start taking profits at the same time.
November 28th Daily Market Comments
The steady climb in the market indexes have not shown any exuberance. Today, the consumer confidence report showed a 17 year high. Investor sentiment has not changed, the slow steady uptrend remains in progress. This is allowing specific stocks/sectors to perform well both on the bullish side as well as some on the bearish side. Stay predominantly long but keep protective stop’s in place. Although there is no signs of any selling pressure, once it starts, everybody is going to start taking profits at the same time.