Tuesday, April 27, 2010

Looks like signs of a mature bull market!!

Bullish Sentiment on the Rise: Is It Time to Get Worried ... or Get on Board?


Posted Apr 27, 2010 08:15am EDT by Aaron Task in Investing

Related: ^DJI, ^GSPC, SPY, DIA, QQQQ, SCHW, ^IXIC

Sentiment is always tricky to measure - and something of a Rorschach test - but with the Dow up 71% from its March 2008 lows, the inevitable has started to happen: Bullish sentiment is rising.



Anecdotally, at least, the migration from investor "disbelief" in the rally to "acceptance" (if not "embrace") can be seen in a number of recent indicators, including:



* -- Newsweek's "America's Back" headline.

* -- An "S&P 3000 by 2020" prediction on Tech Ticker.

* -- A WSJ story about rising bullishness among technicians, featuring a prediction from Lowry's Paul Desmond's that "we could easily be getting into a speculative advance here, a real momentum move."

* -- A modicum of towel-tossing by noted bears such as Jeremy Grantham of GMO. In January, Grantham said the S&P was fairly valued at 850. In his most recent quarterly letter, the famed investor writes "the line of least resistance is a market move in the next 18 months or so back to the old highs, say, 1500 to 1600 on the S&P, accompanied by an equivalent gain in most risk measures, followed once again by a very dangerous break."

* -- A Bloomberg story about stocks being the cheapest since 1990, excluding the 2009 market trough.

* -- Rising optimism among private sector trade groups surveyed by the National Association for Business Economics, as detailed here.

Read full story at:
Bullish Sentiment on the Rise: Is It Time to Get Worried ... or Get on Board?

BSX-- Something good happening at last?

BSX- Boston Scientific Corp

Not sure what is happening fundamentally but recently the stock is rising after some bad news. Today the overall market melted. Dow was down 200 plus points. BSX also opened lower but during the day, climbed up and closed strong.
Worth keeping on the radar.


As always, keep a stoploss in your trading.