TSP Distribution: C-fund 50%, S-fund 40%, I-fund 10%
Friday's close was very disappointing in the fact that it put us back on watch. Sometimes the news rules, even though I hate to let it drive my decisions. But here it didn’t drive my decision, but it did effect price. After the Google debacle on earnings this week, the stock got punished and profits from the first 4 days were taken. We are still in a Bull Flag in an uptrend and now we oversold. So it would not surprise me to see another move next week that resemble this past week. Either way, based on what I see as of the close Friday, no action can be taken either way. I will sit and watch at least a few more days.
Wednesday and Thursday the Small Cap actually gave a re-entry signal for those that were out looking in wishing to find a point to get in. Friday it got caught up in the down wave that was a combination of news and profit taking. We are still safe here and in much better shape then that of the S&P500. We have room to move lower and still be in an uptrend. We are established in a Bull Flag, we still in a descending flag, and we are slightly oversold. So we back on a watch in the Small Cap but I would be surprised to see a pop up Monday and Tuesday here.
The International Index got caught up in the down wave Friday also but ended the week up 1.82%. That is pretty awesome consider how bad the week felt after Friday. All the indexes ended up except the Nasdaq and bonds and the Nasdaq was all about Google this week. The International Index is back on watch but it is over all in pretty good shape.
I really do not have anything to add to this. We are almost in the same configuration as we were last week and that is a watch. I guess you could say, “hey it was a red alert last week”, and you’re right, but we had a small gain and actually made some moves in the charts. But Friday put us back down a notch, so we have to watch early next week to see if the down movement of one day affects the charts.
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