Weekly Commentary for June 6,2011
You’ve probably read (several times by now) my message that “when the charts change, we will change.”
Well *some* charts are starting to change. Some charts…but not all of ’em.
In the bigger picture, we need to keep in mind this is a bullishly constructed market. Make no mistake, we are nowhere near the conditions seen in summer 2008. Or even last summer, when the market backed up 15%.
So we’re not gonna panic, not gonna head for the hills.
As I wrote last week, if the markets had a downward (or a bearishly configured) look, we would not even stick around, we’d be sitting in cash and talking about the Mets.
Eh, ok, maybe the Yankees.
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.
We want to stay in the game. But – as individual charts begin to break down, we will let them go (we’ll sell).
And as we are selling, we are also raising cash, which tends to slow down the velocity/volatility in your account.
It’s the right thing to do.
Financial stocks and Wall Street stocks have been negative for nearly three months – and – there is no reason to sniff around at them. But that group makes up one of the largest chunks of the S&P 500, and is often a pretty large chunk of most large-cap mutual funds.
If you do not understand the game plan, or what is you going on, you have an obligation to get in touch with us. You can email us back, or call us, at 732-223-9000 so we can figure a time when you & I can catch up on this.
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