I pretty much NAILED the Bull Market's Bottom!
I said on March 1st that spending at retail stores is picking up and Stocks that should be in the toilet if we were still in a worsening economy situation, were actually way beyond their 52-week november lows. (BBY). I pointed out Best Buy as the Best example stock that was killing the market!
Then on March 6th I predicted a 400+ point climb in the DOW that the DOW was oversold and should actually be near DOW 7000 to match the recovery pace of the economy in terms of consumer spending, Job Loss Deceleration, and other positive signs of growth.
America is BACK folks.
But... I am hear to WARN the investment community to be careful before thinking DOW 8000.
We need to see what the facts are regarding Mark to Market.
We need to see the effects of President Obama's stimulus package...
We need to assess the long term damage of the Federal Government's Debt... The Higher Taxes... Cap and Trade... And so much more.
There's so many things that are acting as downward pressure on our FRAGILE economy than even IF I am absolutely correct to believe that March 1st was the beginning of the economy's turn-a-round.... We are not in some kinda BULL MARKET that will go crazy as all get out here.
We are in a WEAK Bull Market. WEAK WEAK WEAK recovery. And in this atmosphere.... The Strong will recover first.
Which is why I would like to point out the following ticker symbols as candidates for achieving the fastest recovery in this Weak Bull Market:
(GE) *yes* *General Electric baby is back! I walked down a hall way and heard some talk and near panic about General Electric's stock price month to month. When you hear someone practically in TEARS over a stock, then you know it is time to buy General Electric!!*
And that's it. Thems your choices.... Of course... I may have missed a bank or two so do your homework!
(AFL) <------- P/E of less than 4.5?????? If this slips any...heck.. who cares... I'd buy this at $15.00 a share!
P.S. Now is the time to throw your Money Market (Liquid) money into yoru favorite SMALL CAPS mutual fund. Small Cap Value or Small Cap Growth... whatever.. Toss it in tomorrow or at least by Friday:-) Trust me! We are headed for something truly special this year :-)
Oh and I will also repeat myself here... I've said this before and it needs saying again.
America's Economy was able to do well and rally and grow INSPITE OF Clinton's Tax Hikes.
And I strongly believe America's Economy will find a way to Grow and Prosper INSPITE OF President Barack Obama's Tax Hikes.
P.P.S. President Barack Obama will get a 2nd Term in Office no matter how hard I may protest.