EBIX INC (EBIX) 49.70 -$2.70 (-5.15%) 10:59PM (15 mins delay)

10 Reasons Markets Will Move Even Higher

Oct 13, 2009 - 5:41 AM EDT

With the markets up six days straight, many may think that yesterday was a double-top for the markets and that an imminent move lower is upon us. We see things differently, looking upon the recent market strength as a precursor of things to come and that a new up-leg is right around the corner. We feel this way for the following reasons:

1. Large-cap tech moves to fresh 52-week highs: One of the most impressive aspects to last week’s action were the moves in large-cap tech names such as AAPL, AMZN, BIDU, CRM, EBAY, GOOG, IBM and SY. With these tech bellwethers rising to fresh 52-week highs, on massive volume, we are looking for further institutional inflows to these names. This should create a herd-like mentality around this group going into year-end.

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Source: Seeking Alpha (Oct 13, 2009 - 5:41 AM EDT)