Pretty much a text book day if you have been following this blog. We have had three strong days in a run up to today which solidified the beginnings of some nice long momentum (still just the beginning, remember). Today's market saw some ups and some downs and ending pretty blah. The good thing about that is that a month ago a day like today probably would have ended pretty ugly, but because we have erased the downside momentum, the wavering days will end up either blah or maybe even to the upside.
The old fashioned way of phrasing the above paragraph is to say buy the dips. Well I won't come right out and tell you when to buy - that is pretty much up to you, I only try to comment on how the market is behaving. Right now I think because of our momentum numbers, the market has some protection to the downside.
We here at the TradeWinds are ever watchful for the next storm on the horizon, because we know there will be one, so stay tuned for updates on when that starts to appear. In the meantime check out our Top 25 Long List and our update on our TradeWinds Black Box Portfolio.
And a final note, notice that while all the financial news sites headlines will have some story about Uncle Ben and his talk with Congress, we don't give it any notice. That is where we are different. We feel that Miss. Market charts her own course and really doesn't pay much attention to all the headlines. The mass media spends at lot of energy trying to draw correlations between the two, but they only hit about fifty percent of the time - sort of like flipping a coin.
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