When I told you earlier that I thought there could be some near-term good news, little did I know. I simply saw the Nasdaq get a big bid while the Dow was still down 100. The Nasdaq’s strength has lifted all boats. I will have a bigger report over the weekend wrapping up another nauseating week…but for now, it is starting to feel like the recent lows are being defended and being defended well. Moving averages are still stretched away from price so this could rally further if it wants to. Remember, markets will always revert back to the norm. You are seeing it in Gold now as it starts to pull back…and you may be seeing it in the market as it tries to rally up. Of course, don’t blink!
Gary Kaltbaum owns Kaltbaum Capital Management, LLC (“KCM”), an investment adviser registered with the U.S. Securities and Exchange Commission. The opinions expressed herein are those of Mr. Kaltbaum and may not reflect those of KCM. The information offered in this publication is general information that does not take into account the individual circumstances, financial situation or individual needs of an investor. The information herein has been obtained from sources believed to be reliable, but we cannot assure its accuracy or completeness. Neither the information nor any opinion expressed constitutes a solicitation for the purchase or sale of any security. Any reference to past performance is not to be implied or construed as a guarantee of future results.