DOW today again inch up 16.66 points now at mid noon US time. It just can't seem to drop and this is an indication of bullishness in the market. Like what I did mention last friday when interviewed on radio, we should take the opportunity to enter the market on this bullishness.
There are a few reasons for this bullishness.
1) We are entering into a season of earnings. This will take eyes off the global problems. Wallstreet is too occupied covering the companies reports than focus on negative news.
2) The earnings so far shown is relatively good. Though there are a few hiccups to tech companies like Google, Microsoft and Intel, the other companies are doing quite well. Especially the financial sector! The Banks are doing terrifically well this quarter. Good for Bank of America, Citigroup, Goldman Sachs, Morgan Stanley, Wells Fargo etc. Almost no banks fail to beat the market this time.
3) Funds are flowing from treasury to stocks
4) The Non farm payroll and the ISM reports are good this month. Confidence are always high when these 2 reports are terrific!
So to me, it is obvious that the market can't seem to drop. In fact, even if it does, try to buy into the drop. Any 2-3% drop would be a terrific opportunity to buy into it now.