Fallout Friday – Global Concerns Rock US Markets

PLENTY of things to worry about and we've ONLY corrected 10 points (7.5%) on the Russell – exactly what we prediced under our fabulous 5% Rule™!  None of the other major indexes have fallen as far, so we continue to watch that line very closely for support.  

This morning we played the S&P (/ES Futures) bullish in our Live Member Chat Room (you can join us here) off the 1,900 line and were rewarded with a quick 10-point gain already (7:45) as our assessment of the Global situation (that it's not all that bad) seems to be playing out with Russia making a few conciliatory noises over in Ukraine though, of course, any good game of brinksmanship involves a bit of give and take – so it ain't over until it's over. 

As you can see from our Big Chart, we're still down 3 of 5 Must Hold lines and, when the Must Hold lines don't hold – we stay bearish!  Not too bearish, mind you, we've pretty much shifted to neutral in our Member Portfolios and our Long-Term Portfolio closed the day at $587,490 (up 17.5% for the year) while our Short-Term Porfolio finished at $132,314 (up 32.3% for the year) for a combined $720K up $1,000 for the week and down $4K on the day as we added more BULLISH positions (bottom fishing) into the weekend. 

IN PROGRESS