An annoying problem fixed
Steve Cook on Disciplined Investing

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Have You Seen This?

Sorry for the lapse.  When I left town, somehow my computer got locked out of the Investor Insight site.  We just fixed the problem.  The good news is that nothing has really changed since my last post: the Fed is still too loose, the federal government is still too profligate, the Euros can't get their act together, the Arabs are still shooting each other putting oil supplies potentially at risk  the economy is still showing an erratic pattern of growth and stocks are still overvalued based on these factors.

 

The even better news is that while I was gone, technically the Averages confirmed a break out above the neck line of an inverse head and shoulders resetting the short term up trend to up.  Consequently, our Portfolios spent some cash on several Market ETF's as a hedge against our Economic/Valuation Models being wrong.  Earlier this week, the pin action appeared to render my assessment of a break out a head fake.  So our Portfolios reversed the aforementioned purchases, taking a small loss. 

 

Furthermore, several of our holdings broke major support levels and had no visible support except at significantly lower prices. They include Nucor, Emerson Electric and Caterpillar.  All of those holdings were trimmed--not Sold out completely--just reduced in size.

 

I will be back in full mode Monday morning.

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Posted 05-20-2011 3:27 PM by Steve Cook