While the market has been getting some pretty decent news this week, but hasn’t soared off the news – that does not necessarily mean that the Bulls are losing control. Players are still searching for trades, and the trend remains with the Bulls.
However, having said that, we still believe that there are plenty of critical economic problems remaining to be solved – and, in the end, unless they do get quickly solved, at some point they will be a focus again.
The market is acting a bit tired – which makes sense. But some sectors have still been attracting attention and action, such as the biotechs.
At the moment, we are enjoying summer days – and will be on heightened alert for signals of which way the wind is going to blow. It is hard to sit on hands and, while we believe some rare good set-ups can still be found, we are not eager to be doing anything too gingerly. There will be opportunities – and, quite frankly, we want prices to come to us.
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