Every Sunday StockCharts.com produces a free Newsletter called ChartWatchers. It is worth reading for the views of the the several writers. I especially like the articles by John Murphy. In the past he was on FNN and later CNBC. Last sunday he wrote “Midterm Elections years are the most dangerious of the four-year presidential cycle. …midterm year peaks usually start in the spring. Since April ends the ‘strongest six month period’.. that makes April a good time to take money off the table. It may also make the ‘sell in May’ maxim more meaningful this year.”
So on Tuesday as the market was heading down, there were comments from the Federa Reserve Board (FRB), the Nasdaq started up and closed 2.5% higher on Wednesday. Then the market decided to ignore the FRB and closed 4% lower on Friday. It is almost to the place where the market is ignoring the FRB. So my bet is they will do another big qualitive easing to pump money into the market and make it go up. However, until then it looks like a down market.
IBD TBP’s Current Outlook is “Market in Correction” – not time to invest.
My current investments:
Nordic has a price of 45.80, a sell price 44.11, a relative rank of 02, and is a hold.
SAirTransportation has a price of 59.30, a sell price 58.98, a relative rank of 09, and is a hold. The sell price was adjusted by the today’s distribution.
My portfolio changes this weekend:
IRA #1 – None
IRA #2 – None
My portfolio market exposure after this weekend’s changes
IRA #1 – 00% invested
IRA #2 – 40% invested