Stock Pickers' Market Coming Off Oversold Reading for S&P 500

"Everyone has the brainpower to follow the stock market. If you made it through fifth-grade math, you can do it." -- Peter Lynch

NEW YORK (TheStreet) -- Today we had a strong start to the week, with several leading stocks really taking off. We are coming off oversold levels, so who know if this is a bounce or something more sustainable. Stocks are still mixed overall and this continues to be a bit of a tough year. 

The Russell 2000 (IWM), which has been the leading index, says it's just a bounce, but this bounce could be good for a few days. So I am in a few stocks that are looking and acting their best. I was also stopped out of a couple today after buying them today, with small losses.

From my view, we remain in a large bull market which began in 2012, and still has three to five years remaining. We can't rise all the time, since we need long periods of consolidation to keep the momentum going to the upside. We will have great strong moves up, similar to the late 1990s, but we are years away from that blowoff. That is great news.

We will have plenty of outsized gains before that blowoff move to the top begins. But we are still a few years from seeing that move begin. While it has been fun the past two years taking advantage of constant strength, perhaps 2014 will be known as the year of rest.

If you liked this article you might like

Market Is on the Straight and (Very) Narrow

Look Back to Go Forward

Stock Observations; Reviewing Equities: Doug Kass' Views

Even North Korea's Kim Jong Un Can't Stop This Epic S&P 500 Stock Rally

Robots Might Be Biggest Obstacle for Stock Market Bears