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Punching a Hole in the Ceiling
The key metric in the market since last week has been the breaching of the psychologically and technically significant 1,100 mark on the S&P 500 Index. The index managed to punch a hole in this ceiling on its way to a new, 52-week high.
As you can see by the chart below of SPX, this broad market index has been on a tear ever since March. That tear has been nearly uninterrupted since the index bounced off of its 200-day moving average (red line) in early July.
The S&P 500 now trades firmly above that long-term moving average, but it also now trades well above its short-term, 50-day moving average (blue line). This is clearly a bullish sign for SPX and, because of this, I do think it’s safe to put money to work in this market. But if you are going to do so, be certain you have a tight stop loss in place to protect your gains if the market comes rolling back.
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| Fund | Allocation |
|---|---|
| abc | 25% |
| def | 25% |
| ghi | 25% |
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| Name | Ticker | Date | Buy Price | Stop Price |
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| number 1 | abc | 08/30/2009 | 19.74 | 17.74 |
| number 2 | def | 10/13/2009 | 19.72 | 17.72 |
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Current Recommendations
| Fund | Allocation |
|---|---|
| abc | 25% |
| def | 25% |
| ghi | 25% |
| jkl | 25% |
| Name | Ticker | Date | Buy Price | Stop Price |
|---|---|---|---|---|
| number 1 | abc | 08/30/2009 | 19.74 | 17.74 |
| number 2 | def | 10/13/2009 | 19.72 | 17.72 |
| number 2 | ghi | 05/15/2009 | 19.35 | 17.35 |
| number 2 | jkl | 03/30/2009 | 20.08 | 17.08 |
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Current Recommendations
| Name | Ticker | Date | Buy Price | Stop Price |
|---|---|---|---|---|
| number 1 | abc | 08/30/2009 | 19.74 | 17.74 |
| number 2 | def | 10/13/2009 | 19.72 | 17.72 |
| number 2 | ghi | 05/15/2009 | 19.35 | 17.35 |
| number 2 | jkl | 03/30/2009 | 20.08 | 17.08 |