Tomorrow, I’m going to take a hard look at my low-priced flyers, consider locking in profits and start buying growth stocks, using The PPT Screener.
Unbeknownest to many of you, the Proshares Short S&P 500 ETF (SH) has given me the first sell signal in almost a year (4/16/08). SH has been on a buy signal since 06/10/08.
The NYSE Bullish Percent Index increased 3%, to 43% today. There’s still room to run. To put things in perspective, the rally from 11/20/08 to 01/06/09 saw the NYSE Bullish Percent Index top out at 66%.
Start buying stocks if you haven’t been already. Folks, please realize that this rally that started on 3/10 will probably turn out be the only time this year for investors to make money on the long side. So, make the most of it.
You should not be surprised to see the rotation back into stocks in a big way. Believe it.
The bear will be severely maimed, but will not die. Not just yet.
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