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.
Monday, October 23, 2006
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