So much for the pause, the market blasted ahead this week onpowerful volume. Economic news was mostly good, except for thepayroll job numbers. The economy added jobs just not at the pacethe economists expected. Without the job news, the market could'vebeen up allot more, after Intel guided their earnings higher. Theguidance shouldn't have been a surprise, since the semi-sector wasalready strong, indicating better news ahead for the entire sector.Earlier in the week, a rapid drop in oil prices got the market in abuying mood. The market may pause again this week, as it approachesthe January highs.
A reader asked me about SIRI and AMX. SIRI is an interesting stock,but a highly speculative one. If you owned it before the suddenmove up, great, but to buy it now would be exposing yourself to toomuch risk. AMX is a great stock. It has it all, fundamentals andtechnicals, but the best time to have bought the stock was back inOctober. The stock will move with the market. It's ok to buy thestock here since it has paused, but I would be out quick if themarket starts to sell off hard or the stock gives you sell signals.Otherwise, it should be a good one as long the market is still inbull mode, may have power to $70 or above.
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