"Dow continues winning streak despite gloom" by: John Sample

   I don’t know how you are going to enjoy your Columbus Day week but it should be a toast to the stock market. 
   The Dow Industrial average is on the longest winning streak this year.  
   One can look back to mid-August when crude prices and the Chinese equity market hit bottom.  
   There were predictions of $20 oil and a collapse of the Chinese economy stifling growth worldwide.  
   Guess what happened on the way over the cliff?  
   Of course, stock prices climbed the wall of worry.
   To emphasize how things have changed, even basic materials are starting to turn.  
   Glenncore announced last week that it would cut back on zinc production.  
   Finally common sense may come back to Vale, BHP, Rio and Freeport.  
   Who knew that supply and demand were related?
   As an investor, mark your calendar on August 24.  
   You are going to be able and look back at the bounce back from the bottom.  
   I am not calling for new index highs but a real chance to get value.  
   Most importantly, don’t focus on catching the bottom. 
   I am more focused on stocks showing a real move off the floor.
   You get chances like this in the fourth quarter more often than not. Do not be fooled though.  
   The ongoing news will not be positive nor should it.  
   The real lesson to be learned is that money is made when you go it alone. Be an independent thinker. Value is your friend. 

 

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