On to the Summit!

Now that the SP500 has taken out the Feb 2006 highs only one set of obstacles remain - the peaks set in year 2000 from March thru September. In previous reports I have written about time spent forming tops and bottoms and how they are often symmetrical. They are easy compared to the task at hand: analyzing the supply and demand of the current scenario. Yes demand is great and that's how we have gotten to the prices we are at today. But what about supply and those holders patiently waiting for a breakeven? They definitly exist but are they meaningful? Was the last selloff in March some of that supply coming off the table? Does it even matter? I say they do, that they are not done, but we cannot determine how much they will affect prices. But, what is in our control is stock selection and risk management. If we listen to our stocks and limit the bad effect they will have on our portfolio then we have a decent opportunity to outperform and profit greatly from the coming bull market. And likely, there will be some sharp pullbacks until we clear the 1500-1550 range as those holders make their presence known.
Please visit the Geller Capital website for more information and our perspective on the new bull market in US stocks and the opportunities for investors.

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