• Weekly Top 5: Can the SPX Hit 2,000 This Year?

    by  • July 11, 2013 6:30 am • Quick Hits, Weekly Top 5 • 0 Comments

    Here is this week’s Weekly Top 5.  These are articles or Tweets that I found interesting.  Hope you agree.

    Let the countdown begin….

    Number 5 – Greg Harmon shows why the SPX could hit 2,000 by year-end.  As outlandish as it might sound on the surface, Greg is one of the very few guys who has stayed bullish this entire year and he isn’t one I’d want to bet against.  Also, he noted he received a good deal of hate for this call, so that right there says you probably want to stay long here.

    Number 4 – Michael Santoli talks with Aaron Task about Big Round Numbers.  I’ve noted the Russell 2000 up near 1,000 a lot lately and he does talk about that.  But he also takes a look at the yen to dollar, West Texas crude oil and SPX expected ’13 earnings all at 100.  Lastly, touches on Google (GOOG) and the RUT up around 1,000.

    Number 3 – Josh Brown talks about the upcoming earning season and why expectations once again could be too low.  I thought so highly of his article I pretty much wrote the exact same thing the next day.  Thanks JB for not taking me to court over that.

    Chart from CNNMoney.

    Number 2 – Joe Fahmy noted on Twitter – “One thing I’ve noticed over the past few years is that sentiment shifts to extremes (both ways) much faster than it did in the past.”  I totally agree.  On the recent 5% dip we had people practically jumping out of windows in fear.  Also Joe met Slash this week and that is simply awesome!

    Number 1 – Hands down, Ralph Acampora with the Fast Money guys was the highlight of my week.  I’m a huge fan of Ralph and I summarized his spot here.  If there is Must Watch TV, this is it.

    Bonus for the week – Two of my favorite traders were interviewed in Technically Speaking, the Market Technician Association’s monthly newsletter this week.  J.C. Parets and Derek Hernquist are two of the brightest and most unique guys I know.  Also, I’ve personally met both of them and can attest to them being very down to earth, great guys.  Summary – if they talk, I listen.

     

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