The Week Ahead: A New Bull Market?
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January 20, 2013 - 2:56am
by Jeff Miller, A Dash of Insight
Have we embarked on a new secular bull market?
Jeff Saut, has been pondering this theme for a few months, specifically watching the Dow Jones Transport Index. In today's issue of Barron's Jacqueline Doherty picks up the question with this intriguing quotation:
"There's a 25% possibility we're in a new secular bull market, and no one believes it," says Jeffrey Saut, chief investment strategist at Raymond James. Supporting his case: On Dec. 31 and Jan. 2, 90% of stocks traded higher. Such broad-based strength is usually followed by more strength. After two 90%-up days, the market has climbed an additional 6.8% one month later 83% of the time and 12.8% three months later 100% of the time, says Saut.
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