Midday Update: I am using today's strength to lighten up on stocks a little more.  Going to 75% G, 25% C before Thursday's deadline.  This will be effective Friday 2/11/05.
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A quick update today. 

The market obviously started a real pullback yesterday.  If you look at the February seasonality chart at the bottom of the page, you will see that the 6th and 7th trading days of this month, which was Tuesday and Wednesday, are historically weak .  Today (Thursday) is the 8th trading day which sticks up like a sore thumb on the chart as a better than average day sandwiched between several weak days.  So it wouldn't surprise me to see a little relief rally today.  I would rather just see the pullback get over with but I will be patient and wait for the indicators to get a little more oversold before putting more in the stock funds.

The next two areas of support for the S&P 500 (currently  ~ 1192) are 1180, then 1163.  I will likely get more into stocks with a pullback to 1180 but a move below 1163 might put in me in the bearish category.  We have a long before then (1163) so I'll cross that bridge if we get there. 

That's all for today.  Currently 50% G, 50% C fund.  Unless something out of the ordinary happens today, this will be the last market comments update until Monday morning.  Have a good weekend.