Stocks Are Not Overbought Yet, Could Go Even Higher

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Stocks Are Not Overbought Yet, Could Go Even Higher

by TheStreet 2:47 mins

Stocks Are Not Overbought Yet, Could Go Even Higher

by TheStreet 2:47 mins

Stocks may be staying at near record levels, but Keith Bliss of Cuttone & Co.says they aren't overbought just yet. He said most traders feel that until the S&P 500 reaches 1990 it won't be overbought. Short traders expecting a correction continue to lose money. He believes stocks will continue to move higher as long as all the central banks stay coordinated. He thinks that unless there is a 'black swan' type of event, which can't be predicted, the markets will push through minor resistance, like what is happening today. There are minor pullbacks but no corrections in stocks.

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