Market Outlook - The Simple Prophecy | Seeking Alpha
Peter Way has written an outstanding article about how the stock market has probably more upside than downside in spite of many believing that stocks are overbought. Believe it or not, stocks can go higher even while being overvalued. I respect Peter's research very much, and I have made money in the past by trading UDOW after reading his articles.
In addition to the market makers thinking that stocks have more upside, the economy is still doing well. It is unlikely that stocks will fall very far with today's economic conditions. Buying oversold quality stocks and buying momentum stocks with good prospects is working for me. For example, Apple related stocks like AVGO, SWKS, and NXPI are doing great even while they are expensive. I own all three, and I plan to hold them until I see signs of a bad economy. I watch the Philly Fed and the Chicago Fed information mostly for our economic direction, and I don't see any current problems.
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