At the beginning of September, we urged caution while the U.S. stock market decided which way it wanted to break from its summer doldrums. We said any probe outside of the sleepy, boring S&P 2,400 to 2,480 range should provide us clues to the direction into the close of the year.
The market decided.
As we begin the final quarter of 2017 it looks like we have a runaway stock train. Like a well-oiled locomotive, there is good rotation between just about all the sector train cars. As one runs out of steam another is there to hook on and lead the way. We could quibble that a couple of compartments are slipping off the rails, but it’s nothing to write home about just yet.
And lo and behold, look what sector decided to hook onto the money train. Oil and the oil companies, from explorers to drillers to producers and all the support companies in between broke out of extended bases last month, and are finally moving down the tracks.
At Good Life we must admit we have been quite skeptical about the market. In fact, you might have said we were down right negative.
Punch our ticket and show us to our seat, because we’re all in.
Punch our ticket and show us to our seat, because we’re all in. No more negative from us. Just call us the Dale Carnegie of investments, the Tony Robbins of trading, the Richard Simmons of the stock market. Until we see any type of break below S&P 2,480, we say let’s ride this baby as far as it will take us.
So c’mon gang, the Wall Street train is leaving the station. All aboard!
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