Another up day in the stock market yesterday. I would like to see a down day today and Friday as a little encouragement for the bears, and a chance to Buy The Dip. I continue with the view I had at last week’s low that the stock market wants higher. Remember that the macro economic fundamentals don’t matter until they do. Ignore all justifications analysts make as to why the market should not be going up.
Many stocks I think are still just gathering strength for another run. I would put Amazon (AMZN) and JP Morgan (JPM) in that category as two I like, albeit on just some smallish dips in price. Starbucks (SBUX) if it can digest the recent gains and give a better entry level as well. I am not chasing, but looking for some opportunity if the market can breathe a little. Buy dips, take profits on rallies. Be nimble. To do this I have to await buying on my own terms. Don’t be short.