$SPY The market looked
like it was finally going to roll over today, but stocks had a decent bounce
back , leaving the major indexes in the ranges they have been stuck in since
late August. Volume has been light, indicating a lack of momentum in both
directions. It is a stock picker’s market as the broader market waits for a
direction. Be selective and stay nimble.
My Asset Allocation Model has moved back to 62% Long and the model is at
about 50% Long at this time.
The daily analysis which
I do covering my personal lists plus lists of various bond, domestic sector and
global sector EFT’s has continued to
indicate that caution remains the better part of valor and the tape does not
lie. Only 52% of the names are currently rated Long.
This is a difficult
month to trade in, always has been for reasons mentioned earlier in the week,
so be cautious and don’t take unwarranted risks.
Hi - waiting for your daily updates !
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