Sunday, December 14, 2014

A Bottom Is Near

SGS Market Timer Status:   LONG 
as of close of 10/30/2014

Long Term Current and Past Portfolios
In Cash - Looking for an entry into longs

SPX gained 15% from its low on October 15 to its high on December 5.  Chances are good for SPX to continue to retrace back its advance between 33% to 50% sometime on Tuesday or Wednesday.  Assuming current correction bottoms out somewhere half way between 33% and 50%, gives us SPX 1966 as a good target to start opening long positions.

My plan is to do my first buy of four at SPX 1966.  For now I'm planning to buy SPY, QQQ, XLF and IBB in equal $ amounts.

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.