As mentioned in yesterday’s blog, I was expecting a pullback and wanting a test of the 200 MA. Luckily things played out perfectly and we got both. I imagine at some point this market will give us a significant pullback. I don’t believe we are there yet, but if the charts do turn over I’ll be the first (I hope) to make an exit. For now, my hope is that we are ready to start trading in a higher channel, but we need confirmation.
While it is easy to get caught up in all the technical indicators, oscillators, moving averages, and Fibonacci lines, I respect trend lines above everything else. With the exception of AGG, All the stock funds we follow have held their price performance trendlines. As long as they hold their trends, I will hold my position. In retrospect, I should have stayed in the I-Fund for the remainder of May, but I chickened out and took profits.
<O
Here is the 15 day Price performance trend.
<O
Here is the 30 day Price performance trend.
Here is the 45 day Price performance trend; we can see here that we are testing support.
<O
The Dollar fought back today and as a result, our I-Fund took a pounding. But there is good news for the I-Fund, <?xml:namespace prefix = st1 ns = "urn:schemas-microsoft-com
</st1:country-region>Australia</ST1 reported GDP growth for the 1st quarter of 2009. While the consumer was pulling back, their government managed to spend their way through rough waters. This is also good news for the Australian Dollar.
Thanks for your time...
While it is easy to get caught up in all the technical indicators, oscillators, moving averages, and Fibonacci lines, I respect trend lines above everything else. With the exception of AGG, All the stock funds we follow have held their price performance trendlines. As long as they hold their trends, I will hold my position. In retrospect, I should have stayed in the I-Fund for the remainder of May, but I chickened out and took profits.
<O
Here is the 15 day Price performance trend.
<O
Here is the 30 day Price performance trend.
Here is the 45 day Price performance trend; we can see here that we are testing support.
<O
The Dollar fought back today and as a result, our I-Fund took a pounding. But there is good news for the I-Fund, <?xml:namespace prefix = st1 ns = "urn:schemas-microsoft-com
reported GDP growth for the 1st quarter of 2009. While the consumer was pulling back, their government managed to spend their way through rough waters. This is also good news for the Australian Dollar.Thanks for your time...
