Markets ended near their highs of the session on Friday, no small feat considering the whack from some major tech stocks. The action was quite fitting to end the week, which was a dazzler following last week’s thumping of the bears. What’s interesting to note was the good relative strength, breadth and solid volume…something that has been lacking. Of course, nobody rings a bell telling you to get in or out, right? Tech stocks seem to have the best momentum now, but financials may not be far behind. Energy and commodities could do some damage to the bears if the dollar drops another shoe lower, as foreigners trade in their dollars for them. Oil looks ready to run up, too. Bonds were up Friday but blasted all week long, while gold is hanging in there. I have a few charts to share with you this weekend (below), with some notes attached. I’ll be posting recaps next week while Happy is away, but reply to these messages if you wish!
Have a great weekend!
Hit ‘em straight…Bagger
by Bagger Vance
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