Stocks Bull Market Continues Grinding Higher, Fear is Good!
Stock-Markets /
Financial Markets 2010
Mar 27, 2010 - 03:29 PM GMT
By: Nadeem_Walayat
Alistair Darling delivered his master stroke budget in advance of a May 6th General Election. The Tory's were put on the defensive as to where and what they would cut. The voters were left confused as the Tory high command accused Labour of stealing their policies again, why vote tory if Labour are offering very similar though less austere policies? Hence a narrowing in the polls into hung parliament territory. The tories need to develop a backbone and think up radical policies that differentiate them from the Labour party AND appeal to most voters else they really will blow their chances in about 6 weeks time.
Stock Market - Whilst most analysts and investors remained focused on the global debt crisis, the Dow closed up 108 points on the week to close at 10850, the last analysis (23 Mar 2010 - Stocks Stealth Bull Market Trend Forecast Into May 2010 ) projects the Dow to 12,000 by mid May 2010.
Gordon Gekko had it all wrong, its Not "Greed is Good", Its "Fear is Good". Its this FEAR that has kept the mainstream press and Financial BlogosFear on the WRONG side of the stocks stealth bull market for the past 12 months and highly likely will continue to do so for the next 12 months.
Fear Sells!
"The point is, ladies and gentleman, that fear, for lack of a better word, is good. Fear is right, fear works. Fear clarifies, cuts through, and captures the essence of the evolutionary spirit. Fear, in all of its forms; fear for loss of life, of money, of love, knowledge has marked the difference between those that take informed risks and make money and those that remain petrified by fear in a perpetual state of inaction."
Politicians, the chief peddlers of fear recognised this centuries ago!
U.S. Dollar - The U.S. Dollar bull market closed up on the week at 81.68 breeaking above the last high at 81.30, last analysis (01 Nov 2009 - U.S. Dollar Bull Market Scenario Update ) projected the USD to rally towards a target of 84.
British Pound - The British Pound fulfilled its correction target of a rally to 1.52 to 1.53 last week before resuming its downtrend as per the last analysis (02 Mar 2010 - Election Risks, Debt and Inflation Push British Pound Below £/$1.50 Towards £/$1.40 Target ). GBP closed at £/$1.49 and continues to target 1.40 as part of a trading range of 1.55 to 1.40 for 2010.
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Source: http://www.marketoracle.co.uk/Article18233.html
Your Analyst.
By Nadeem Walayat
http://www.marketoracle.co.uk
Copyright © 2005-10 Marketoracle.co.uk (Market Oracle Ltd). All rights reserved
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