3rd Quarter Closes: Can We Sizzle the Steak Any More?
On Friday, Wall Street closed a confidence-inspiring third quarter.What a quarter it was.
In case you were living under a rock, during the third quarter: investors stomached soaring energy costs, fears over consumer spending, the aftermath of 2 deadly hurricanes, and finally, bearish comments from Greenspan on the real estate bubble.
Despite all of the fear, trouble, and ballyhoo, the S&P managed to eke out a nice 3.2% gain from July to September.
How can you not be bullish?
If you're in the right stocks (which really means right sectors and industries), the market can be your best friend.
For instance, all this negative press on the economy has our Proctor and Gamble position literally on fuego -- 52 week high today in case you missed it.
Yesterday, we upped our price target on Proctor to $65 and we're being generous.
We really think PG is worth closer to $70 a share.
Don't go anywhere -- the fourth quarter should be all fireworks as the Katrina recovery gets underway, Christmas-minded investors do their perennial quadrille, and traders start preparing for a Greenspan-less 2006.
Speaking of holidays, don't think for a minute that we forgot about you -- we'll have all our Christmas recommendations lined up starting mid-October.
<< Home