Market and GWM Model Portfolio Performance for 05/17/2013

Market and GWM Model Portfolio Performance for 05/17/2013

(click on the charts for easier viewing)

Positions as of 05/17/2013
Beginning of the Day

Market Snapshot

The Market has gotten quite extended now.

Chart View
Weekly Price Bars

The S&P 500 Index
has breached it's upper Bollinger Band.
This is a classic sign that the market is getting
ahead of itself.

Market Direction Model

The Market has had a very nice run.

I took profits in QIHU for reasons stated in the my last blog post. I also decided to ring the bell on some other GWM Model positions today. A number of attractive stocks that have been on my watch list are just now breaking out. I intend to buy them next week if the market remains amenable.

The Market Snapshot above is telling us that the market is now getting overbought. Remember, green is good; but, too much green is bad. The market is very strong and we do want to participate in the move, but we should not get complacent. 

This blog post does not constitute an offer of investment advice. This blog is only provided for educational purposes. Please read the Important Blog Disclosure posted in the right channel bar.