One More Day For The Bulls?

The bulls will likely run one more day as investors anticipate the Fed and Congress  

The Fortune Teller Speaks:
I predict another day of positive stock market returns, based on investor sentiment regarding the Federal Reserve and last week’s jobs data.
 
Wall Street Beats & Jives:
All eyes on Wall Street are still bright and bushy tailed from last Friday’s jobs report bonanza; investors suddenly decided that good economic news was indeed good news, even if it potentially means no more Fed tapering.  Investors spent the better part of last week selling off stocks in reaction to good economic news, which is ironic and sick, but unfortunately true.
 
Today all eyes on Wall Street will be focused on the Fed, as Fed members Jeffrey Lacker of Richmond, James Bullard of St. Louis, and Richard Fisher of Dallas are all scheduled to speak today; many investors feel today’s remarks will foreshadow the policy moves at the next Fed meeting on December 17th-18th.  Many feel that the Fed may begin tapering before the end of the year, and many feel that the Fed will wait until 2014, I am just going to say that nobody knows for sure and that the employment goals set out by Fedster Ben Bernanke and Fedstress Janet Yellen have not yet been reached.

And, a new (not really) shoe is slowly re-entering the headlines, a shoe which certainly has the capacity to completely mess with investors heads if it does indeed drop: Congress. Congress is back at it again with budget debates, as the end of the year requires more budget legislation. I’ll leave it right there for now.

Hindsight is a Beach and We’re Playing On It:
Last week I was correct Monday through Thursday with the exception of the NASDAQ Composite (QQQ) on Wednesday, December 4th, 2013. Last Friday was a huge stock market rally (bet nobody saw that coming) which took the S&P 500 (SPY) up 1.12%, the Dow Jones Industrial Average (DIA) up 1.26%, and the NASDAQ (QQQ) up .73%. I believe the bulls will take another day under their belt.

Greed or Fear?
Greed has definitely taken over investors again, although the wrong Fed words could have investors fed up with the bulls.

My Secret Sauce is Green:
 
I predict a green stock market today, may the bulls be with us.
 
This stock market forecast is for educational and informational purposes only. It is not intended to be investment advice nor an investment recommendation. Past performance is no guarantee of or indication of future performance and your performance may vary widely from any that may be indicated in this column. There is risk of loss in all investing and trading activities and you should consult your financial adviser before making any investment decisions

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