Continuing to Wind Down Positions

Our leverage ratio is down to 0.40 on our Aggressive Portfolio.  We look to drop it to 0.00 if the S&P hits 930 this week. 

Yesterday’s euphoria was misplace in our opinion.  A new bull market will not be based on house sales.  Beyond foreclosures most house sellers still have their heads in the clouds.  In our area houses are on the market at 2005 prices, what are they thinking about, only foreclosed houses dropped in price?  Reality has yet to set in both the residential and commercial real estate market.

The EMA ETF Fund Nav was 1166 at yesterdays close.

8:30 AM CDT