I have to say we’ve had it pretty easy for the past couple of years. We’ve been long overdue for a correction and it looks like we are getting one. Our more conservative strategies have been positioned for this move. Some of our more aggressive strategies took action last week to protect, and that has paid off. At this time, however, the correction only looks short-term and we won’t be surprised at all to see a good bounce today.
The BIG Picture – the overall market trend is still UP. A dip below 1700 on the S&P500 would give us reason to start taking larger protective measures. But for now, we think this could be a great area for a bounce and then continued upward movement through the end of spring this year.