The Week Ahead: Enough Fear To Push Stocks Higher?
By:
Forbes Real Time
Posted on June 15, 2012 at 20:40 PM EDT
Good investors should never chase prices, but the markets do seem to be at a point where any solid pullbacks could be buying opportunities. Watch closely, and keep your cash ready for openings in any of the picks recommended by MoneyShow's Tom Aspray. As the markets head into the news-laden weekend, the bulls seem to be taking the upper hand over the bears, as the markets closed strong. Of course, many are on the sidelines until after Sunday's Greek elections, and the quadruple expiration of futures and options on Friday also keeps many out of the market. Certainly the news on the economy last week was more negative, with some now looking for second-quarter GDP growth to be below 2%. The increase in jobless claims and the lower than expected Retail Sales and Industrial Production numbers did not help. Two weeks ago in "Armageddon Fears Are Overblown," it was my view that the negative sentiment was overdone. Too many seemed to be preparing for an economic meltdown. The major averages made their lows the following Monday, and the recent rally has reduced some of the anxiety. But the question remains: Is there enough pessimism for stocks to begin a major new uptrend?
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