Hopefully this will be a quiet week. Supposedly a lot of people will be on vacation but there is a lot of potentially market moving economic data. I still think there is support for the SPX between 1190 and 1200 which very close to the 200 DMA, gulp. I hope it holds.
The yield on the ten year treasury just went below its 200 DMA. Over the years the 200 DMA has been relevant many times so it may be a little while before the curve gets a little steeper, if at all.
If things really hit the fan here I plan to take some domestic off the table, add a little foreign and increase cash. I have not decided, yet, which domestic names I would come out of but I might be able to effect big changes by selling three domestic names and buying one foreign. I am not expecting to have to do this but I will have a plan in place in case I am wrong.
Changing subjects; there has been a lot of attention devoted to Greenspan's legacy at the Fed shindig up in Jackson. I don't care about this stuff at all. Dwelling on how good or bad he has been does nothing to help me manage money.
When his term actually ends we may see real news take a holiday.
Proud Member Of
Random Roger
© 2009 | Gadget Theme Blogger Template
Original WPtheme By Blogger Template | Converted By Gadget Lover
| Distributed by eFree Blogger Help
Original WPtheme By Blogger Template | Converted By Gadget Lover
| Distributed by eFree Blogger Help
2 comments:
I know what the 50-day and 200-day moving averages are, but I guess I don't understand why they are so important.
Oy
I sold my S&P 500 and moved into treasuries in my 401k.
I'm selling the last of it my IRA right now and moving into short term bonds.
I'm sitting on some cash and thinking about buying BEARX or doing some option puts on QQQ & SPY.
Yield curve is inverting, oil (I agree it may go down) will continue to be above $50 a barrel for a while.
This is a recession and stock market crash in the making.
Great blog! Keep up the good posts!
Post a Comment