Weekly Commentary for May 17, 2011
As most of you know, I was a stockbroker for 16 years before becoming a fee-only investment adviser. As a stockbroker, you get paid on commission. So it was pretty rare when money sat idle.
Didn’t matter if it was good market or bad. If you had cash, it was getting invested.
Now, for about 14 years I have been using point and figure charts to help me with your investments. And when using these charts, there are clearly times to buy, and clear times to sell.
And there are also times to just “pause.” And that is when sitting on some cash becomes a good thing. This is one of those times.
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The charts tracking the overall “health” of the market have been pulling back lately. Doesn’t mean the market is heading straight up — or even heading straight down. Just pulling back a bit.
If you are relying on a blog post for specific investment advice, you are making a huge mistake. Please speak with an investment adviser before making ANY investment decisions.
If you do not have an investment adviser, we encourage you to contact Mullooly Asset Management at 732-223-9000, or through our website.
Under no circumstances should the content discussed on this post be considered specific investment advice.
So I have been slow to put money to work.
I have a few clients who just are not used to seeing their adviser sitting on cash. Maybe they have always worked with a broker who was eager to put money to work. Don’t know.
So, look, if you have questions about the overall health of the market, or have questions about the game plan, do not hesitate to pick up the phone and ask, ask, ask. You can find us at 732-223-9000.
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