Lange Financial Services Market And Trading Update For October 20, 2013. Favored Stocks List Updated.
Lange Financial Services Market Update: October 20, 2013 6:00PM
In the post month, we have aggressively and repeatedly recommended the purchase of quality growth stocks regardless of all the negative and conservative views toward September and the government shutdown. We have frequently posted comments via our Twitter page @fredwlange. Many selections especially, E&P[drillers} and biotech equities, have reached all time highs. All leading indexes except the DOW are also at all time highs.
Internal strength remains excellent accelerating steadily after the double bottom in the area of 14,800. The second bottom was slightly lower due to weakness in IBM causing a hedge fund panic and establishing an important low. Some positives are:
1. The world economy is picking up.
2. Monetary ease will continue under Ms.Yellen.
3. The domestic economy will pick up after the shutdown.
4. Huge cash is on the sidelines anxiously waiting to be deployed.
5. New Highs last week reached 582 confirming the markets internal strength.
Notwithstanding some corrective action, we believe that further significant strength will be witnessed especially in our FAVORED growth stocks .BUY GROWTH. Below is our updated ” Favored Stocks” list as of October 20, 2013.
Favored Stocks List As Of October 20, 2013
Bank Of America
Las Vegas Sands
Category: Lange Financial Services