FUND UPDATE: 6.6.00 Down 4% to 68.65. Time to load up IMO by averaging in this next pullback.|
For those of you who did not trust this rally [like me], now may be a good time to average in as the NAZ pulls back.
Got so negative I unloaded most of the fund at NAV of 58. Hope I can get in in the low 60's and high 50's again. I plan to average in every down close.
SHORT TERM PULLBACK LIKELY:
Many stocks showed reversal patterns near close after HUGE runnups. IE ARBA has a DARK CLOUD Candle. JDSU showing bearish candlesticks, and Donald Sew [master timer] is calling for a NAZ pullback next few days [should only drop to 3500 to 3600 range if we truly are now in an uptrend].
WHY I BELIEVE WE HIT BOTTOM:
McClellen Osc showing a middle spike following a complex bottom; This traditionally occurs before the buy spike.
See DecisionPoint.com and look at historic McCl. Osc Bottoms, ie 1998, 1929 etc....
A diversified Telecom Fund like PBTCX [or any other good one] should fly if the techs go inot an uptrend and if the recent bounce is any indication, we should trend upward into the fall, and then really fly by Christmas barring any unforseen setbacks.
I will be adding all the way up...