Sunday, March 22, 2009

Market Has A Spring In It's Step

Top Line: For the last couple of days the market has rested a bit to clear the air. The sellers haven't come to the party for the most part and we expect a spring in prices. (Too much spring talk for you?)

The Update is very calm this evening as we see the near term direction of the market to be in the direction that will benefit our portfolio. If you have not finished your buying, you may want to hurry as bargain prices are gone. These prices are more like discounts rather than bargains.

We have been screaming about buying stocks for nearly six months and almost all stocks have been a bargain prices in that period. It's almost like there is no reason for you to make money over the next several months if you managed to get into stocks in this period of time.

For the past six months we have felt a lot of pressure that the market just was heavy but that is more like a bargain light than a warning bell to get out. Our position is that you buy when prices are low and you sell when they're high...novel approach wouldn't you say?

We now have to sit back and wait for a good selling opportunity which shouldn't be here for at least a couple of months. Relax and enjoy the profits rolling in. We think the low is in place and it's kind of a fun point to remember...easy to remember, too.

The February jobs' report that came out on March 6th held the low in the SP500. The date was 3-6-09 or as we like to say three six nine and the low in the SP500 was a devilish 666. Let's see if we can get a 85% rally from there on say 9-9-09 with an SP500 around 1234. What's your guess for the high?

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