U.S. stocks rose again on Thursday, with benchmark stock market indexes hitting fresh records. Part of it was jobless claims falling, part of it was strong earnings from blue chip stocks and part of it was Ben Bernanke talking about continued Fed support.
But will the run continue?
Charles Sizemore says yes, and while we may not get another 19% in the next six months, it’s realistic to think we add another 5% to 10%. After all, the Federal Reserve rattled the markets several weeks ago with talk of “tapering” and now that everything looks normal again it has been off to the races. Charles thinks that was the correction the market was looking for before another leg up.
It’s worth noting, too, that stocks are a forward looking indicator. Yes, there are troubles now — but investors are moving their money based on what things may look like in 2014.
And besides, what other assets look good right now? Emerging markets? Bonds? No thank you.
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Jeff Reeves is the editor of InvestorPlace.com and the author of “The Frugal Investor’s Guide to Finding Great Stocks.” Write him at email@example.com or follow him on Twitter via @JeffReevesIP.