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Friday the 13th Not So Scary After All

Stocks are up for 8 out of the last 9 sessions including Friday the 13th in the plus column. And this is on top of a bull rally that has been charging ahead since March 2009.

Too often people underestimate how hard it is to turn a bull into a bear. You need much stronger ammo then what is available right now... especially as economic data is pointing to an accelerating economy.

Reity, any worries about the start of QE tapering at the 9/18 Fed meeting?


My guess is the QE taper will be announced at the 9/18 meeting. And given all the forewarning and market movement to date, then there should be NO reaction to the news. My guess is that the slate of Fed Governor speeches on Friday are there just in case investors get the wrong idea about their policy changes. So they will be at the ready to smooth out the message.

As you know I have no problem with the QE taper and continue to have my pedal on the floor as stocks are still the most attractive investment option at this time. Thus, I will be miffed if the weak hands loosen their grip on the bull once again.

Regardless, I am playing the obvious trend in front of me. If further gains get delayed, then I can patiently wait for them to come around.

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Steve Reitmeister (aka Reity...pronounced "Righty")

Executive Vice President

Zacks Investment Research

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