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The floor show I think what this is hardly -- thousand point rally some people some traders some market watchers -- are expected if there was a deal but.
No doubt the markets took off at the skies today is this a signal to load up your portfolio.
Or -- rally actually mark the exact time you should sell joining us now out of Fox Business explicitly Boston -- Pezzullo.
Chief market strategist at bell curve trading all right we love you because you give us these levels of -- here cell there.
And we're looking at a very strong S&P today bill what would you do.
With our game plan really hasn't changed we still see the beginning of 2013.
Is really much more for range at least for the first quarter and probably.
Into the second quarter as well.
No question we dodged a bullet yesterday with the fiscal cliff.
Negotiations but remember as we get into on mid February we're probably gonna run up against the debt ceiling so there -- still.
A number of obstacles are hurdles that we have to clear.
And that's just the U west.
-- that you can take that over to Europe I need Europe seems to what stabilized over the last several months but Europe is is by no means all the the -- true.
OK let me just tell him -- get your S&P range bill and you say it could go from.
Thirteen twenty that is the that's the floor there -- took 15100.
OK so -- help.
People out there who want to trade this and ride this momentum wave by buying -- and selling at the right time how they should do that.
Why I think what you wanna do right now -- is is take advantage of the rally as as I said when we spoke in December -- you get closer to 15100 I don't wanna be reducing my equity exposure.
Not adding to -- so I would take advantage of this rally.
If you look historically every time the S&P has got close to 15100 whether be the major peak in 2000 the major peak in 2007.
Which had major pullbacks off those levels so at at least on the first approach -- PR.
I think it's a great opportunity for people watching the show.
Did take some chips off the table reduce -- equity exposure -- but I think you'll definitely have a a better time.
-- -- -- -- later in the year that -- just showed three different opportunities where you -- bought low and then sold hi Bob low -- high and the levels are almost identical -- the doubt you know we're at thirteen 1341.
At the moment what what ban DC for the Dow.
-- I think you're gonna push it was on the upside to thirteen five maybe thirteen six.
But again you know just like the S&P you're getting close to the upper end of the range.
I think that the NASDAQ-100.
You could maybe push -- as high as 2825.
You know current but the point is.
That I think at least for the next three to six months this is gonna be much more for range game take advantage of these big rallies.
Take some profit -- directly exposure but as you get also has been well fed.
Has put in a huge down body pillow.
Okay with that with QE3 412 whenever a big they've put in the -- those infomercials -- the body pillow wearing that'll Kozey.
This put that under the markets have -- not so will we see those kinds of ranges.
I look at it as I said I still think obvious if you look at the major drivers of global economic growth.
US still major question marks about our recovery.
Europe again Europe seems it was stabilize but by no means out of the woods yet in China.
The other major driver depending upon how the US and they -- Europe's recovery -- -- That's gonna have a big impact on -- -- you have the major drivers of global economic growth and significant question marks.
And so that sets up.
This back and forth range game until you have more clarity on how those major drivers are doing and the last time -- -- here on December 6 that you had a bearish call on gold where do you stand on gold at the moment where does gold go we've got a lot of viewers who at least have a certain portion of that their portfolio.
Yeah last time we spoke.
I'll -- I -- sell -- gold futures 1715 to 1730 and I said look to take a profit all the way down at 1646.
That call you know was right on the money.
The market topped out right around 1725.
And -- -- futures traded all the way down to the 16401630.
Then we turned around they have -- clients turn around get long there what I want to do now with his.
I take profit on my long positions in front of 17100.
And I I think anywhere from really 17100 up to 1750 -- 1715.
I want to reset those short questions little -- do.
Bill so requires discipline and removing emotion out of -- how do you do down.
You know we have our own a -- proprietary methodology that basically gives is a very good sense of -- you know these major support resistance levels and and we just basically stick to that I think and an environment like this where there's still a lot of headline risk not just coming out of on the US but also coming out of Europe you gotta be very disciplined about what you do we try not to get caught in the middle chase headlines just -- out -- buy and sell levels and play on the wide.
-- -- -- Oh I bet you like have figure cal lark -- take down to the actual calorie every day right.
Something like that if you're the plan -- -- thank you bill great to see you happy new year.
Happy new -- bills to zillow its chief market strategist at bell curve -- listen to this guy he's made great calls every single time closing bell.
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