A lot of the retailers are still haggling over when the government shutdown will be. A few days ago when Dow touch 14700, we did mention to our graduates network group that if DOW decrease 1000 points from 15700, we predict a bottom! And that pint is 14700.
From that day on, Dow reached the bottom, and the next day, it goes up 300 plus points. On friday, it goes up another 100 plus points, the second triple digit in consecutive days! If you think that is not bullishness and confidence in the market, what is?
Of course now the magnitude of increase this week will not be as strong but we do expect by the end of this quarter, the all time high to be broken again.
Dow at anything below 14700 is a buy for me. Same as STI at 3150 or below...
Forget about the government problems with debt ceiling or shutdown. It is over earlier than you have expected, when you talk about the stock market. Let us tune in to some other problems next time...