Monday, October 23, 2006

Who will be the last bear to go into hibernation?

Here we go again! Up that is. The markets are ticking higher and it feels good playing the markets from the right side. There's a lot of reports coming out this week both in the US and here in Sweden. Ericsson and Nokia reported last week sending Eric higher and Nokia on a thrilling move down. But this is a bull's world now so I believe Nokia will come back, especially when considering its low projected P/E of 13 for the next year.

There's nothing on the macroside today and no important earning reports in Sweden, so I was expecting a calm trading day. And it was, until the New York opening bell. As I write the Dow is up 0.8%, Nsdq 1.3%, and S&P500 0.6%. This woke up traders in Sweden sending the market into a late (hurry before the close) rally. In Sweden we now have snow so bears should be sleeping, but maybe there still are a few awake. When will the last bear be in hibernation? Please tell me so I know when to begin going short.

No comments: