Wow!!! I really thought Friday was going to be an up day because all the news surrounding Facebook IPO, which I hope you didn’t buy. Some suckers, I mean buyers paid $45 per share today and it closed where it opened at $38.23. This has to be the worst performance week of the year and if it’s not, it has to be second. This was really, really bad and I hope you are on the outside looking in. May has almost single handily wiped out all the gains for 2012. Wow, look at those weekly numbers. Damn. If we are not at the bottom, we have to be really close. I thought all along that we were heading down to $1300 to $1292 and we are here. Will it hold? No one knows, but you would have to think that your odds of going all in now would be almost risk free. Me? I’m going to wait on the plan that I mentioned in the last blog and stack the deck in my favor. The new number is $1345. We have to close above that number in the S&P 500 before I’m willing to get back in.
Once again Bonds are having an issue getting through $111.07. It bounce off it 5 times this week and never closed above it. I’m thinking it is time to bail, but I will wait and see if the market turns and if it does, I will take my bond money out and put it in the C or S. Need a sign first.
I will try to post more throughout the weekend, but it might be very limited since I’m on vacation. Goods news for me this week is that I held on to my YTD gains and actually gained another .08%. Not much, but it wasn’t 4 to 6% down. Yeah!
TSP Distribution: G-fund 75%, I-fund 25%
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