Market Direction: BULLISH alert issued 08/09/2012
The market demonstrated a modest pullback on this past Friday with all of the major indices finishing down for the day. The Dow was down over 200 points, the Nasdaq down over 67 points and the S & P was down over 24 points. Much of this negative movement is due in part to sobering earnings releases, which just began. Our blogger/followers have been cautioned over the last several weeks to take money off the table and/or to at least tighten stops. Our model has not triggered a bearish alert as of yet. So we are still in a bullish posture.
As a result of the current environment, we still advocate that bloggers/followers play stops close and/or consider taking some money off the table. We still maintain a bullish posture, but will issue an ALERT in the event a change in posture occurs. Please monitor $tockMarketDirection daily for ALERTS.
Economic reports this week include: New Homes Sales (10/24), Initial Claims (10/25) and GDP (10/26).
As a result of the current environment, we still advocate that bloggers/followers play stops close and/or consider taking some money off the table. We still maintain a bullish posture, but will issue an ALERT in the event a change in posture occurs. Please monitor $tockMarketDirection daily for ALERTS.
Economic reports this week include: New Homes Sales (10/24), Initial Claims (10/25) and GDP (10/26).
$tockMarketDirection maintains a Bullish Posture. We encourage followers to monitor positions closely, exercise proper money management strategies and to monitor $tockMarketDirection for ALERTS that we may issue advising of a change in our current bullish posture. Cha-ching.
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