01/06/14

Good Evening, A third negative day in row. However, there has been no serious damage so far to the charts and the action to this point should only be considered a healthy pullback after a nice run.

Stocks start the week with modest losses

The day’s action left us with the following signals: C-Buy, S-Buy, I-Buy, and F-Sell. Our current allocation is 42/C, 58/S. It is -0.75% on the year so far.

There is no serious damage to the S&P index just yet. Someday it will continue down and several people will proclaim that they were right. However, they will fail to mention the last dozen times they attempted to call the top and were wrong. It’s best to stay away from anyone that claims that they can call the top. Those same people probably claim to know when the rapture is coming as well and we all know what scripture says about that. The bottom line is this: Calling the top or the bottom of a market is pure luck. If you don’t think so, then watch to see how many people are able to do it twice. I’ve never seen that happen. No, we’ll continue to watch our charts, which will tell us when to sell and it will take a lot more of downturn than this before that happens. No guessing here! All that said, I don’t really expect anything much to happen one way or the other ahead of Friday’s jobs report. Lets all hope that I am wrong and we are pleasantly surprised. It is possible that the release of the FED minutes from December could jolt things a bit, but other than that I don’t see much positive between now and Friday! Don’t forget to keep praying for God’s guidance of our group. May He continue to bless your investments!

Scott8-)



Written By

Scott Grimes

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