Bubble Hangover…………with Update
The investor binge is over, ended last September, and why shouldn’t investors be depressed and not believe that changes are being put in place that could help them start a new life. Yesterday was one of those moments of unrestrained grief that just took over for the moment. Grief takes time to heal but things are getting better. No changes in our positions yesterday, we probably will increase our positions a bit today or tomorrow in the health, technology and alternative energy ETF’s.
The NAV on the EMA ETF Fund was 928 on the close.
8:07 AM CST
Update at 9:35 AM CST
The next two days are critical. We are staying with the plan for the moment although it is tough. If the market on Friday doesn’t close up for the week, we will reevaluate. For now technically we view this as a two to three day BEAR TRAP. Look for the market to gap higher either Thursday or Friday and leave a 2 to three day island (S&P 773 to 798) of trapped bears. In the EMA ETF Fund we moved $ 100,000 of QQQQ to double long DDM.