Stocks rose modestly Wednesday morning, pushing the Dow further into record territory. The question on everyone’s mind, of course, is: Can the rally continue?
“It sure can continue…the question is ‘how long is it going to continue?’,” says Todd Harrison, CEO of Minyanville.com.
As a former hedge fund manager, Harrison knows full well there are ‘two sides to every trade’ and that is very much the case when it comes to the market today.
On the bull side, he notes the Nasdaq 100 broke out of a “cup and handle” formation yesterday. “That’s bullish,” Harrison says.
In addition, the Dow’s record was greeted with muted enthusiasm (at best) and retail investors have only just begun to dip back into the market after years of running from it. In the first eight weeks of 2013, investors put $22 billion into traditional equity mutual funds, The WSJ reports, citing Lipper Data. But that’s after investors pulled $126 billion from such funds in 2012 -- and following net outflows from equity mutualRead More »from Don’t Fight the Tape But “It’s Not Going to End Well”: Todd Harrison