"Don't Fight the Tape"
"We are in a bull market -- period." So says Michael K. Farr, president of investment firm Farr, Miller & Washington, pointing to a strengthening economy, improved corporate earnings, and increased capital spending as supports for the upward movement. He notes that in the last 12 months, the Nasdaq has risen 72% and the Dow Jones 36%. One note of caution from Farr, however: The market has had no serious setback since March -- a pattern he describes as an aberration.
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