People sometimes say, “This is a hard market.” The implication is there are sometimes easy markets.
But in my opinion, it’s never easy. Take this current market. Straight down, and now straight up. In fact, so far straight up, everything is stretched tightly waiting for the rubber band to snap.
I get very fearful at times like this, weighing staying long, or selling and missing a further run up. I don’t know the answer right now, other than to be wary and look for any sign of a downturn.
On the other hand, maybe the market keeps jumping if Target (NYSE:TGT) is any sign. A super breakout and it looks like the stock is headed to the $70s.
Housing may be inching back, but housing stocks sure haven’t. Will that change? Look for PulteGroup (NYSE:PHM) to break above that downtrend line as a sign of the bulls returning.
Back next week to see if the market still has its smiley face on.