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The Chartman

Clear Skies on the Horizon for Wall Street

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If you had asked me a few months ago if we’d see an all-time high on the S&P 500, I’d have said “no.”  I didn’t think the economy supported it, and just a few months ago, we were 40% below today’s levels.

But, the market is always surprising and I’m certain this rise caught more than a few investors off-guard.

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Personally, I’ve been 100% invested in my “long-term” account, but sticking on the sidelines a lot more in my “active trading” account.  Goes to show that the “set-and-forget” money usually does just fine.

So, where to from here?  I’ve been skeptical of the rise, so that always tempers my outlook.  But, for now, I see no clouds on the horizon.

I mentioned my “long-term” account, so I’ll show you a couple of those holdings. The first is Johnson & Johnson (NYSE:JNJ).  A new all-time high?  Tough to argue with that.

Waste Management (NYSE:WM) has also had a terrific run. It’s outperforming the market, but can it keep up a 15% per quarter rise?  I’d take that gain for the entire year!

Enjoy the holiday weekend. Back at you next Friday.

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