NASDAQ once again within striking distance of the psychological 2,500 level

After breaking out above the psychological 2,500 level earlier this year and then pulling back with a minor correction, NASDAQ is once again poised to break through the 2,500 level. Closing at 2,491.94 on Friday, even normal daily volatility could take us back over 2,500 in less than an hour. Whether NASDAQ is really ready to solidly break out and stay above 2,500 "permanently" is another matter. I think it is, but I don't have much of a say in the matter.

Actually, I do have just as much say as anybody else, and I am a net investor in stocks and will be for the next five years. The "problem" is that there are far too many short-term market timers who seek to profit from short-term market volatility rather than buying or selling based on sound economic and business fundamentals.

-- Jack Krupansky