“The market’s bias is still to the upside. We’re giving the rally the benefit of the doubt. Innocent until proven guilty,” said Barry Ritholtz, CEO of Fusion IQ in an interview on Yahoo Finance - Tech Ticker.
Ritholtz expects the market to continue to go higher in the first part of 2010, suggesting 1,250-1,300 as an upside target for the S&P 500, but still thinks we are in a cyclical (short-term) bull market within a secular (long-term) bear market, which began in 2000.
The goal from now until let’s call it 2015 is to preserve capital - see if you can make a little money here or there - but be ready for the next 15-to-20 year bull market.
Source: Yahoo Finance - Tech Ticker, December 18, 2009.