Thursday, March 19, 2009
Investment Update
The timing of my postings were within days of the low. The S&P 500 made a low of 666 on March 6th. It has rallied all the way up 802 and is now pulling back to the 789 level. I am very pleased with performance thus far and I have been peeling some profits off (in my IRA and 401-k accounts) as the market has gone too far, too fast. I would be surprised if the S&P 500 pulls back to the 720-740 level before launching another rally. If you are not in, I would seriously consider doing so during this correction. My strategy has been to buy into these crashes and take profits anytime my positions make a +20% profit. Overall, I believe we go much higher (900+ on the S&P) into the Summer before the market starts heading down again. This rally will not be straight up and it will offer us several opportunities to take profits and later repurchase.
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