The first two weeks of 2004 has begun with a bang in the stock markets. I am perplexed. Are we in a bull market again, or is it a secular bull market (a rally within the bear market)? If the market's hot streak is sustainable for a couple more quarters, we need to see job growth, since it is the consumer who has been supporting the markets even in the last bull run (1994-1999).

There are "caution" reports in financial papers that talk about the growing consumer debt. For now, stocks (techs especially) are growing strong because everyone left and right is buying an MP3 player, laptop, and LCD screens. So we'll just enjoy the run for the time being...

On my next post, I'll look at a few stocks and analyze them: Buy? Sell?