Stock market review 7/31/2011

Evening folks. Crazy week in the markets as news had completely taken over the finanical markets.  Every rumor had an effect on the markets intraday.  In the end both the s&p and russell2k were down nearly 4-5%.  The NASDAQ was the relative strength leader dipping only 3.58%.  Hard week to go long.  This week will be very telling for us.  As we have seen in the past when everyone is scared and down on the market is when we have a tremendous opportunity to make big money.  Of course we will let the price action tell us if we are nearing a tradeable bounce but if we see it we will be get aggressive as we are heavy cash right now in our portfolios.  As i talked about everyday last week there are just some times in the market its not even worth trading and better to be light in your ports as there will always be opportunities to get aggressive but to do that you need cash not holding a bunch of losing positions.  Hopefully we get that chance this week. Either way we will be prepared for all scenarios.

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