The Bull Market No One Seems to Have Noticed
Remember the NASDAQ?
It was a big deal back in the late 1990s when it went up 330% in two years.
You may not have noticed, but it’s up 133% since the bottom in 2009.
What intrigues me about the NASDAQ is that it is above its resistance level, as you can see by this one-year chart…
That’s called a breakout — and is very bullish.
NASDAQ Breaks Out
The NASDAQ is hitting 11-year highs with the next resistance level at 3,497, and nobody seems to have noticed…
In 1999, every television in every bar and restaurant was tuned to CNBC, and 11-year highs would have been leading the news!
Granted, the NASDAQ surge has to do with Apple (AAPL) going parabolic:
The Apple 540 February calls are up 310% today. That’s a nice trade.
But it’s not just Apple…
Check out stocks like Akamai Technologies (AKAM), which just gapped up:
Qualcomm (QCOM) has doubled in the last year or so.
Microsoft (MSFT) has gone from $16 to $32.
Intel (INTC) — which I’ve been telling you to buy for more than a year now — has gone from $13 to $27 and pays a fat dividend.
OCZ Technology Group (OCZ), which I recommended to my readers in Crisis & Opportunity, has gone from $4.50 to $9.14 since September.
You Can Own the NASDAQ
The fact is there’s a blue chip tech stock bull market going on right now — and no one seems to care.
Here is the Google Trends chart. It shows searches on the top and news articles on the bottom:
Searches have been trending down for years, and news articles have fallen off the table over the last two months.
This is a sign of a bottom — not a top, or even a middle.
As a contrarian investor, I love hot markets that aren’t getting a lot of attention, because this means there are plenty of Johnny-come-latelies left to buy my stock from me at a much higher value. I like to call them “suckers.”
Be the Market
One way to profit from this situation is to own the market itself.
The NASDAQ originally stood for National Association of Securities Dealers Automated Quotations.
It’s the second biggest stock exchange on earth, and it was the first electronic market.
It is also a publicly-traded company called the NASDAQ OMX Group and trades under the ticker NDAQ.
NDAQ has a forward P/E of 8.44, a PEG ratio of 0.80, and 950,000 insider buys over the last six months. That seems cheap to me.
– Christian DeHaemerSource: Wealth Daily
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