Sunday, May 1, 2011

In Again, Now Out Again

Thursday Midweek Addition: As a result of the market close on Wednesday Investor Business Daily now has their outlook to " Market in Correction Pressure" . They note that the third year of a bull market is often choppy.....and choppy it is

Wednesday Midweek Addition: On Tuesday the Dow was up a tad but the other US stock exchanges  were down ....and down with increased volume. This has caused Investor Business Daily to switch their outlook to " Market Under Pressure"

This was a good week in the Market for me, very good indeed. However this Market commands lot of attention, something I will not have available for the next couple of weeks…therefore I will be selling out and going to the sidelines for a few weeks. Cash is good if you don’t have time to be nimble.

This may also be a good time for a little market sabbatical as I “sense” a bit of rotation going on. Perhaps oil is losing its lube, but likely not, more likely other sectors are just getting stronger. A few weeks may bring clarity.

I will not be selling out of dividend paying stocks…. these are my “bonds” and they are not bought to trade. Also, it appears in this weeks review those types  stock are getting even stronger. If I can find some time I will spend it trying to add to existing positions in dividend paying stocks.

I will sure say adios to silver, way too much speculation here for a conservative investor....but gold, I just don’t see a reason to leave gold. Will we stop printing money? I don’t think so. Therefore gold still seems to be a great holding to me.

What did I see in the weekend review?

IBD’s Market Current Outlook still shows “Market in Confirmed Uptrend” 

My interpretation of the Copernicus Systems is to be long...but I this is where I sense the rotation mentioned earlier. Some fine companies that looked good to me were: AMGN, ELNK, EBAY, AXP, BA, BMY, HON, IBM, JNJ, MMM.

My "Stocks for a Trade" now consists of:
(Gains shown are the total since purchase)

SLW – 3.68%

BIIB – 1.65 %

ETF's for a trade are:

USO 11.12 %, nice, thank you

GLD 8.59%, second purchase 4.92%

AGQ 22.03%, Hi Ho Silver, but away for me …and thank you very much

IBB 1.95%

 RSU 4.05%

Normal ETF's:

 OIH 25.11%, no reason to be a pig, time to sell, hope to see you again

 XLE. 18.21, ditto here

Have a great week.

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