Just a Quick Update

Choppy trade in a relatively tight range defined today's market action. There was little data to help drive prices either way. I think the only notable data point was that oil climbed to a new two-year closing high of $108.47 per barrel.

I'm having trouble downloading charts this evening so I'm going to fore go posting them this time, but they couldn't have changed much based on today's action, which means the seven sentinels remained in a buy condition.

So the broader market managed to close modestly high today, but it's only the first day of the week and given our sentiment survey sell signal is in force there's still a good chance for some selling pressure to hit the market by Friday. Whether that indeed happens remains to be seen however.

 

[JTH]

Anyone notice 50% of the top 50 are 100% S-Fund? Flip the boat baby!

 

[coolhand]

When the market's running higher, that's the typical allocation we'll see at this level. Flipping the boat now would certainly elevate your current position at 50, wouldn't it?

Anyone notice 50% of the top 50 are 100% S-Fund? Flip the boat baby!

 

[Guest]

"flip the boat"...?

 

[coolhand]

The market has a tendency to reverse whenever too many traders are leaning one way (from a bullish/bearish perspective). It's a contrarian indicator, but it doesn't always work well, and given the liquidity being pumped into the markets, it hasn't worked particularly well for months now.

So as an analogy, when too many people move to one side of the boat, the boat often flips over.

"flip the boat"...?

Thanks CH, sometimes I forget to cnnect the dots.

 

[TravelinTom]

Anyone notice 50% of the top 50 are 100% S-Fund? Flip the boat baby!

Maricón wants to flip the boat to improve his position in the rankings?

 

[coolhand]

I wouldn't quite put it that way. But he's 100% G fund while a good deal of the rest of the Top 50 is 100% S. If the market were to see some serious selling pressure, he'd have a good chance to move up in the rankings.

Maricón wants to flip the boat to improve his position in the rankings?

 

[JTH]

I won't be in the top 50 after tonight's results. I should remind folks one of my goals is to be invested for the minimum time possible. I don't expect to win too many awards this year.