A fairly dull week in the market although today certainly
was a little nasty with the market making a downside reversal. We started
the day flirting with new highs (on the S&P only) and then ended closing at
the absolute lows of the day, with the Nasdaq and Leaders being hit
particularly hard. From the start of the year most stocks have made very
little if any upward movement. We are in a consolidation (sideways
movement), which can be healthy for a longer term move, if we can regain a
leading position.
For now we wait and see if the markets can keep acting
well. We lightened our margin position in our ‘the One’ strategy slightly,
although we are still on margin. The other strategies still are fully
invested.
Not much new to discuss in the market this week … we are
just in a holding pattern waiting for the market to make a decision as to which
way it wants to go.
Hope you have a wonderful and safe weekend.
Respectfully,
Randall Mauro
Resnn Investments, LLC
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