Thursday, July 7, 2011

Stock Market Update

NDX is @ new year high. So are many other indexes. DTX and RLX are @ all-time highs. There is a saying: "new highs beget newer highs".
I have nothing against this. But one has to exercise caution ahead of NFP. If it comes in ugly tomorrow, some profit taking will ensue. 2nd Qtr corporate earnings reporting begins next week. We are up 8-10% on indices from the low reached just a week and a half ago. Trees do not grow to the sky. Trail the stops if you are long. Enjoy the ride.

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