Tuesday, March 1, 2011

1306 Actual Entry Price

Since my order was placed late yesterday, it did not become effective until today's close.

So, my actual entry price is 1306 on the S&P 500 Index.

Today broke a 7-month long pattern. The first day of the month today was actually a down day, although it was indeed a Short Sale Day that I was anticipating yesterday. But 1306 is a lower price than 1325, so sometimes one can benefit from a sell off. As always, I am anxious about this week's market action. Historically, the early half of March is a strong time for the market. If historical patterns bear out, then this week should be an up week. However, I am also prepared for a downdraft. 1299 on the S&P 500 Index should hold as support. If not, then we will have to sit out a correction.

Corrections are normal in bull markets. They allow one to buy in at lower prices.

I still believe that the best buying opportunity this year will occur in May. We will see.

Later.

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