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S&P500 is Making all time high

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sp-500-new-high-oct-5-2007.png If you haven’t yet noticed, S&P500 is making all time high! It’s just crossing the double top of 1550-55 level. Dow is already in the unchartered territory, bullish. Now transports also need to follow them (Both BNI and UNP are up). IYT that tracks performance of transports also shooting to the moon (up close to +4% already). If Russell 2000 (RUT) also follows these leaders, then we have all the bullish signals in place. If it happens, I think Christmas is little early.

Cheers and profitable trading, OP

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3 responses to “S&P500 is Making all time high”

  1. OptionPundit Avatar
    OptionPundit

    RAIL could be another way to play transports. Both BNI and UNP are up and RAIL was beaten badly, as the sector recovers, chances are this will recover too. Cheers, OP.

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  2. Dayton Avatar
    Dayton

    Why go after beaten down companies in a rampant bull market and try to make 10-20% when one can do very well with momentum stocks?

    I bought RIMM stock on earnings ( a stock highly undervalued for its financial numbers under Phil Town formula ) a great business with unique brand and moat and made 13 points in one day. I plan to re-enter the trade on weakness and hold RIMM which has a valuation around 4 times its current stock price.

    I just don’t understand why do people have to hang to DFC and RAIL with bad numbers and stagnant growths when there is plenty to make money? This isn’t a bear market of 2000- 2003 when one has to nurse sickly stocks into blooms.

    Reply
  3. OptionPundit Avatar
    OptionPundit

    All the best Dayton.

    Reply

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