Boy, this is one strange market. In fact, according to many statistics, the rally we’ve seen (i.e. the most days EVER above its 5-day moving average) is unprecedented. Of course, I’m worried about it being overbought, but I still haven’t received any kind of sell signal. That could come suddenly, but until then, the long side dominates.
Kraft Foods Group (NASDAQ:KRFT) was my pick on Bulls & Bears last week, and it did nicely the past few days. With Friday’s breakout, there’s still room to run.
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I also talked about Intel (NASDAQ:INTC) a few weeks ago, looking for a close over $35. It did that Thursday, and with Friday’s small pullback, it looks primed as a long pick on Monday.
Back in two weeks to see if the long side craziness continues!