New TA/Charting, page-7823

A lot of people are bearish on the market at the moment But I see a lot of upside in the overall market in the rest of April and even May. Though there is a saying Sell in May and go away. If the bullish scenario that I’m expecting plays out and LTR management plays their cards right and we do get some juicy announcements this month and the next then expect some big fireworks all the way to $3.About this market, I don’t understand why there are so many bears around. Market has priced in all the rates hike for this year including 50 basis points next. Also it has priced in the slowing down of quantitative easing last week. I also think the expectation for this quarter earnings is very low compare to the last quarter. Wall Street estimates just 6% EPS growth for this quarter versus 30% last quarter. This provides a lower hurdle for the corporate sector and so any improvement on this should be very bullish for the stock market but offcourse it all depends on the outcome of this reporting season.