| Today's Comments (Short Term Outlook) |
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Update: Going 100% G fund before the June 14th deadline. Buyers still around but early strength fades again. I had to work on the message board problems most of the night (which seems to be working now) so I will make this short today. The market saw a strong rally early Monday but it faded by the close. The indices did manage to stay positive but it appears to be struggling to hang on. As I mentioned yesterday, I believe this week could be the last hurrah for the market before we see a pullback. That may or may not turn out to be true but it is amazing how similar the 1994 chart is to today's chart. It is premature to say, but if we do see a pullback soon, it may mean our new sentiment survey would put us in the "smart money" category. Here are the results of the first survey: Bullish (up) 28% Bearish (down) 45% Neutral 26% Thanks to those who participated. So far it is the minority that is correct with Monday's small gain (which means we are the "dumb money") but we have four more days to go. The S&P 500 closed last Friday at 1198.11. Let's see where it closes this Friday. There will be a new poll posted on this page and the home page each Friday. I will end the survey the following Monday evening. That's all for today. Currently 70% G, 30% S fund. I will use any further strength to lighten up on that last 30% I have in the stock funds. Until next time... Have questions? Visit our message board for answers.
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