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Support

6/2/2008 10:21:46 AM

The line has been drawn.

Welcome to Lynn T's 1-2-3 PLUS Alert. To learn more about my Partial Leverage Utilization System, click here.

Is there enough optimism in the markets to keep us above support? That's a difficult question to answer this early on, but I'm leaning towards no. There have been a lot of events recently that should have pushed the SPY (and other markets) lower - the price of oil and the weakness of the dollar are just a few.

Oddly enough, neither of those factors have had a very significant impact as of yet. Now could be the time that traders and investors step back and start thinking that the recent advance doesn't make sense, given what else is going on.

Remove 1/3 bullish position (see new weighting below).

Current Weighting Suggestion:

1/3 in Bullish Leverage
2/3 in CASH mode

You can email me with any questions at plus@stockbarometer.com.

Have a great week!

 

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