Weekly Commentary for July 5, 2011
So why is the subject line “Sideways”? After all, I really wanted to call this the “Greece-y Market.”
It’s “Sideways” because there is a possibility this is how the stock market could move for awhile.
Look, isn’t it weird the market falls seven weeks straight… then moves straight UP… five days in a row?
It’s possible we could see five, six or seven weeks of sideways or straight up, followed by five, six or seven weeks of sideways to down.
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.
***** ***** *****
But wait… are we going to re-run 2008? No chance.
See, short term indicators for the stock market are up. That’s good. Medium term indicators have not *yet* turned up. That’s not so hot. But they are close to moving up.
We’ll feel better about committing more money in general when those indicators turn up. So stay tuned. OK, but… in what? The sectors with the BEST relative strength, these are usually the first sectors to move. At the moment, that would be real estate, technology, and maybe gold.
And small caps, small cap, small caps.
