August heats up the markets

Another month has come and gone and the markets just seem to keep on surprising to the upside. Still, I hear a lot of bearishness our there. Many of trading blogs I read warn of the boogie man bear returning from vacation and dashing my hopes for a continuation of what has so far been an exceptional quarter. Granted, it’s only two thirds complete, and if it ended right now it would probably be the best one since the last quarter of 2004, when we gained 36.68% for the quarter. Maybe the doubter’s have a point. It does seem to be the more speculative stocks that are doing the best. You know the Pharmaceuticals and the Semiconductors and the Tech’s are perking up. And maybe that’s a sign the market is on its final accent for this bullish run and traders should be alert to the cliff ahead. But, what else is new? Actually, the more bearishness I hear, the more it makes me want to stay the course. One hedge fund manager I like to follow almost seems to have distain towards bullish traders, like they don’t have a clue to what’s really happening. One thing’s for sure, sooner or later where all right in our analysis, just not at the same time. I try not to forecast, only react.