Be Long and Beware!
The market kicked in and gave a strong indication of where the path of least resistance is....up! The volume was attractive at over two billion shares and the breadth was a sweet 2:1. The advance was broad and contained strong leadership from the small caps. In fact, the small cap sector overtook the semiconductors as the day progressed.
Many traders believe that the recent out performance of the small caps is a sign of froth and speculation. They extrapolate this to be a signal that the rally will not be sustainable. Ya know what? ... we agree. However, before the end of the rally those currently in doubt and not participating will be wearing horns. Remember, Mr. Market will convert you faster than Pam Anderson as a Jehovah witness.
The market needs to breach the 2280 level on a closing basis in order to create some performance anxiety. Should that happen we expect a move to the 2290- 2300 level (possibly a little higher) in a blink of an eye. We are broadly and almost fully invested with a small cap bias. The difficult part will be to make sure that we do not overstay the party while we are fully loaded (no pun intended). This market will do you serious harm after this run. Therefore, our game plan is to exit a large portion of our positions around 2295. We will also keep some on until the market puts in its first 1% down day after the Nazz achieves those levels or better.
If You Held a Taser to Our Head:
We would buy any dips until the NASDAQ hits our target....plain and simple!
See you tomorrow ___________________________________________________
The analysis, opinions and/or forecasts expressed on the Kcap Trading Blog (âKTBâ) are for informational purposes only and should not be relied upon in making investment decisions. By using this site you agree that Kleiner Capital Management, LLC (âKCAPâ) and its principals are not liable for any action you take or any decision you make in reliance on any content. Please be aware that there is no commitment by KCAP to update the KTB. Furthermore, there may be inconsistent timing and follow up (if any) of posts.
None of the information on KTB is considered individualized investment advice and should not be construed as a recommendation or solicitation to purchase any securities. Reliance on information provided on KTB in no way establishes an advisor-client relationship. Investors are encouraged to seek the advice of a qualified investment professional prior to investing funds.
Clients of KCAP, as well as the firmâs principals and other employees, may be invested in securities discussed at KTB. However, any mention of said securities is not intended to influence market conditions for the security to the benefit of KCAP clients and/or principals and employees. KCAP is not affiliated with any advertisers on this site and does not endorse any of their content. For additional information and disclosures, please visit www.kleinercapital.com.
The information on KTB has been furnished from sources we consider to be reliable, but no guarantee is made with respect to accuracy.
___________________________
Many traders believe that the recent out performance of the small caps is a sign of froth and speculation. They extrapolate this to be a signal that the rally will not be sustainable. Ya know what? ... we agree. However, before the end of the rally those currently in doubt and not participating will be wearing horns. Remember, Mr. Market will convert you faster than Pam Anderson as a Jehovah witness.
The market needs to breach the 2280 level on a closing basis in order to create some performance anxiety. Should that happen we expect a move to the 2290- 2300 level (possibly a little higher) in a blink of an eye. We are broadly and almost fully invested with a small cap bias. The difficult part will be to make sure that we do not overstay the party while we are fully loaded (no pun intended). This market will do you serious harm after this run. Therefore, our game plan is to exit a large portion of our positions around 2295. We will also keep some on until the market puts in its first 1% down day after the Nazz achieves those levels or better.
If You Held a Taser to Our Head:
We would buy any dips until the NASDAQ hits our target....plain and simple!
See you tomorrow ___________________________________________________
The analysis, opinions and/or forecasts expressed on the Kcap Trading Blog (âKTBâ) are for informational purposes only and should not be relied upon in making investment decisions. By using this site you agree that Kleiner Capital Management, LLC (âKCAPâ) and its principals are not liable for any action you take or any decision you make in reliance on any content. Please be aware that there is no commitment by KCAP to update the KTB. Furthermore, there may be inconsistent timing and follow up (if any) of posts.
None of the information on KTB is considered individualized investment advice and should not be construed as a recommendation or solicitation to purchase any securities. Reliance on information provided on KTB in no way establishes an advisor-client relationship. Investors are encouraged to seek the advice of a qualified investment professional prior to investing funds.
Clients of KCAP, as well as the firmâs principals and other employees, may be invested in securities discussed at KTB. However, any mention of said securities is not intended to influence market conditions for the security to the benefit of KCAP clients and/or principals and employees. KCAP is not affiliated with any advertisers on this site and does not endorse any of their content. For additional information and disclosures, please visit www.kleinercapital.com.
The information on KTB has been furnished from sources we consider to be reliable, but no guarantee is made with respect to accuracy.
___________________________
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posted by Kleiner Capital Management, LLC. | 5:53 PM
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