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Mar 02

The Market Today

3/02/2012

A non-descript day for the market. I will take it. With all the wild gyrations, with little movement overall, and some drama to add to it, I will take it. Again, my primary indicator is neutral. The means not to add to positions at this time. Despite this, many stocks look very good, and have not broken short term supports. Many more are starting to approach these levels. Should this breach occur, then I would begin to really lighten up on equity exposure, and raise cash. Until then, continue to ride the uptrend. The markets were basically unchanged, and bonds rallied. Durable goods declined in Germany. Oil declined. The Dollar rallied, moving above both it’s 20, and 50 day moving average. This shows that the Dollar rally should continue, weakening commodities, such as oil, agriculture, and precious metals. Unfortunately, we need to take our time here, exercise caution, and wait, sit on the sidelines, to see what direction the market decides to take. I lean on the downside…that being said, I still favor taking profits..but would wait till stocks violate their 20 day moving averages before taking them out. Until then, have a great weekend, enjoy some much needed time off, come back Monday refreshed for another exciting week.

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