Anticipation is About to End…………with update2
The much anticipated new administration is nearing and so the anticipation phase is about over. Fridays market action was the first signal, bad news is now bad news for the market. By the same token good news will be good news to the market. While there is a big dose of skepticism out there at the moment, we still look for things to start jumping.
As such we are getting positions in place as the market get set to move out of the base. We brought our aggressive portfolio back up to 1.27 leverage on Friday and will be bring up the leverage on the conservative portfolio to 0.50 today, it has been at 0.25 for around three months. Also gold is backing down into the 800 to 820 add on area. We will be adding more gold and gold miner stocks by adding positions equal to 5 percent of the portfolio in that area.
The NAV on the Aggressive EMA ETF Fund was 1033 at Friday’s close.
8:31 AM CST
Update at 10:20 AM CST EMA ETF Fund Added $ 45,000 of gold ETF “GLD” at 81.17, so far the low is 80.74 and the high is 82.04 today.
Update 2 at 10:57 AM CST: The S&P 500 just hit the 870 support area that we outlined in our January 7th comments.
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