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.
Resnn Investments, LLC