Jeff Weiss, chief technical analyst for Tejas Securities Group, said he liked the look of this year's rally and sees it heading toward 1425. He noted that 1,000 issues or more have advanced in 34 out of the past 35 sessions.
Jim O'Shaughnessy, founder of O'Shaughnessy Asset management, also had an upbeat view on stocks. He said the last time Dow was at 13,000, investors were paying 17 times earnings for stocks compared to 14 times earnings now.
He said investors now can pay less for stocks with good price momentum in a low volatile market environment. They include names such as Home Depot (HD), Tata Motors (TTM), Apple (AAPL) and Garmin (GRMN).
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