Tuesday, September 18, 2007

A very good day

The S&P 500 closed near 1520 today, its highest point since July 23. That's only 2.2% below the S&P all-time record close of 1553, meaning we're out of correction territory.

Meanwhile, SSO is up 5.9% today and 14.9% from its correction low on August 15. There will still be some bumps along the way, but we should be in good shape as long as everybody else remains gloomy.

My indicators tell me S&P will reach at least 1600 in the next several months, which is a 5% gain from here and a 10% gain for SSO.

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