Wall Street guru Birinyi sees 'story stocks' like Tesla keeping the bull market going [CNBC]
THE PRICELINE GROUP INC COMMON (PCLN)
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Source: CNBC
Stock market research guru Laszlo Birinyi says this is the kind of market he likes, and he sees plenty of opportunity even with its slow-motion moves. "Even these days, the S&P is up 1, but Tesla is up $14 so what we've been saying is this is actually good because it keeps traders at the table. If a trader was just looking at the market, he'd take a long lunch. If he comes in and Priceline has a big move, it keeps traders in the game," said Birinyi, president of Birinyi Associates. By the end of the first half, he expects to see 2,450 on the S&P 500, just about 50 points away. "My attitude all along has been it's going to be a steady grind upwards, and nothing dramatic," he said. Birinyi said he's not particularly worried that the market is meandering since there are story stocks even if the S&P 500 is barely changed. " Apple's moving, Chipotle is up 9. Regeneron is up $60 in the last two weeks," he said Tuesday morning. "I think the market is fine. Jus
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