Big up-days and small down-days are sure to make our Price indicator happy and today that indicator moved to a Buy recommendation. The Volume indicator has been Buy for a while so today the NTSM analysis moved to BUY overall.
We recommended a Buy at the close on 17 June and reentered the Market on Monday 20 June. We are up nearly 5% since that Buy recommendation.
The NTSM BUY signal today just confirms that conditions are improving in the near term.
The Clowns in Washington continue to threaten to keep the Debt Limit where it is until they work out some sort of compromise. Compromise does not seem to be in the vocabulary of many of the newly elected members of the House. Many of them pledged not to raise any taxes. That is unfortunate. I know from personal experience that it will take spending cuts and tax increases (both) to get us out of the debt-hole we are in.
That is one reason that I am only 50% invested in Stocks. I will probably remain there until we get some word from Congress how they plan to get us out of the Debt mess. In other words, 50% is my “fully invested position” for the time being.
