Monday, May 27, 2013

$85 Billion A Month Is Still Being Pumped

RTS is selling NZTCY and buying FGP in its place on Tue 5/28 at the open

What happened last week was just a garden variety profit taking sell off in a bull market, steep in magnitude but short in time length.  I believe there is a good chance that SPX tests 20 D-SMA (around 1630's) and then rallies to new highs.

My plan is to do my 2nd buy sometime this week. I am looking for SPX 1631 early this week, perhaps tomorrow.

Disclaimer: The views expressed are provided for information purposes only and should not be construed in any way as investment advice or recommendation.  Furthermore, the opinions expressed may change without notice.