2/22/2011 – Market Update

Is this the real deal? We’ve all been waiting for a correction and finally saw a 600+ downward thrust on stocks down 4% or greater. The last time we saw this many stocks down in a single day was August 11, 2010 at 1069 stocks. On January 28 we had a big downward thrust (400+) but the market reversed the very next day and continued higher for two more weeks.

If we do get follow through to the downside, my first target would be 55 to 56 range on the Q’s. For now, taking it one day at a time and not buying in anticipation of a move in either direction.

My last two holdings stopped out this morning, so I’m in currently in cash.


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