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On Wednesday the Fed laughed in the face of the +0.1% GDP reading for last quarter. They knew the weakness was temporary in nature and that Q2 economic data was already showing a healthy rebound.
Thursday brought ample proof of this in the form of improving manufacturing data and healthy gains in both personal income and spending. With that stocks are now within striking distance of new highs at 1900.
All it may take is a 200K+ job gains reading from Friday's Government Employment Situation report to make that a reality. And if not Friday, then sometime soon we should break above as there are fewer and fewer reasons to be bearish.
Hopefully you are already back to 100% long with top ranked Zacks stocks. If not, then no time like the present to make that happen.
No it's not "Buy and Hold Forever" or "Buy Low. Sell High." Instead, it rides the most powerful force impacting stock prices. For more than a quarter century, it has nearly tripled the market with an average gain of +26% per year. This has been verified by an independent accounting firm.
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