What’s the concern? Debt. But not the national debt or even deficits, which are topics themsel...
Best Buys from the Adens
01/15/2014 8:00 am EST
The stock market has been partying. As we move into the New Year, the market is still celebrating the Fed's modest tapering move, notes Mary Anne and Pamela Aden, editors of The Aden Forecast.
More important, it means the Fed's not removing the punch bowl…The easy money party will continue and the stock market likes that.
This suggests the economy is indeed improving and the easy money will continue into 2014, which will likely fuel even higher stock prices.
The Dow Industrials and the Dow Transportations recently hit record highs, thereby confirming yet another Dow Theory bull market signal. Reinforcing this, the S&P 500 (SPX) reached a new high and the Nasdaq soared to a new 13-year high. This is all very bullish action and it's signaling stocks are headed higher.
Many are calling the rise a bubble. Others say it's a fool's market, a fake and manipulated market, and worse, citing all the reasons why an investor shouldn't be buying stocks.
Nevertheless, stocks have kept on going. In classic fashion, they've been climbing a wall of worry, slowly, but surely, without even experiencing a normal 10% correction in over two years. Our technical indicators also remain super bullish.
There's a good possibility the S&P 500 could keep rising up to near the top side of its uptrending channel. If so, it could eventually get to near the 3,000 level.
If this seems unreasonable, it's important to remember that good years in stocks, like we've seen this year, are historically followed by further gains the next year, in most cases.
These indexes have been strong all along, and they're signaling, “There's more to come.” That's especially true considering stocks are now becoming much more attractive to Main Street investors.
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