Friday, July 8, 2011

Portfolio Managers Scramble To Enter Bull Market

For what its worth I have not seen a stock market this strong or powerful since 1999. This stock market wants to go much higer at a very fast clip. Latest evidence? The ugly employment data this morning that had the markets down 150. But it did not stay there and stocks like Apple and Linked In are moving higher fast. Portfolio managers are underinvested awaiting the never arriving pullback. Huge strength in the tech sector leading the charge. But the advance is spreading out across board. The bears are trapped, as are those hesitant bulls. The economy? weak. No real growth to be seen. But the markets are sniffing something out. maybe next year we will have a mini boom/ Hard to know just that the smart money is moving rapidly into the US equity markets.The Nasdaq is at 10 - 11 year highs.