Our Bull Market has run into a Ground Hogs day mentality as the morning this past week have started off down and somehow a "footsave" by the bulls save the averages at the end of the day. Today may be different ?
China hit 7+% down overnight at the lows and that was followed by Germany hitting 2% + Up so the world is not in synch today. Durable goods were down but strip out some items ( like earnings this quarter ) and they were actually ok !
So the RECESSION IS OVER declares NewsWeek and many other folks like myself and a surprise positive GDP report this Friday could actually be Bad for the market as the Quantitive Easing is already being pulled via the FED and if this economy has to stand on it's own two feet w/o the aid of the Government it will look like a newborn calf on ice....wobbly and punch drunk trying to stand alone.
The Bull market rally that took us from 666 spx -985 spx may have net it's demise since last Thursday it really has been in a pullback if you watch the internals and see the momentum wane so we have been scared to buy and hold...scared to hold positions overnight and scared that all these gains can be given back quickly.
Our BUY area is still SPX 944-960 and I believe a good scare will help the markets long term. Our skittishness has helped and hurt our performance as our stocks have soared but we have missed very large profits while taking rather small profits in the TRADERS account. CAL UNH RGA GILD and many other picks would have been making Great profits but as we said the risk of the market falling hard here is too high and we would rather be safe in these accounts.
100% cash all accounts
Tom
TTT
