an tSionna {03.18.11}

Stocks managed to reclaim that first restistance level we discussed earlier this week.    Postive reasons for this were the calming of the situation in Japan, the news regarding Libya and some better economic news at the end of the week.  We had also become over sold enough in the short term that some kind of bounce was to be expected.  We'll have to see how markets respond next week.  I was a buyer of certain finanacial ETFs and dividend oriented ETFs at the end of this week in certain client accounts and certain risk strategies.  For the time being we will leave our shortest term indicator at NET MARKET POSITIVE.

There are a few other sectors of the market that I believe have become cheap enough to seriously consider for purchase in some of our investment strategies.  However, I think the proper posture right now is to wait a bit and see how these sectors respond next week and how the market reacts to news events before I add to any of these positions.  

*Long ETFs related to the S&P 500 in client and personal accounts.  Long certain financial and dividend paying ETFs in client and personal accounts.