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In yesterday's commentary I stated that the 3 keys for finding bottom were:
1) US Economic Data Stays Aloft
2) Global Currency Problems Diminish
3) Treasury Rates Stay low
Given a solid ADP Employment report and better than expected ISM Services on Wednesday I believe #1 has been satisfied. Same is true for #3 as Treasury rates are still WELL under historical norms.
So I am feeling quite like the famed rock and roll star Meatloaf who sang "2 out of 3 Ain't Bad". That had me selling my VIX position Wednesday for a quick +23% profit and now my portfolio is back to 80% long the market with plans to ratchet up to 100%.
I am not guaranteeing that bottom is in this very minute. But I have little doubt that in just a few weeks' time we will learn that getting more bullish now was the right call.
Our resident market timer, Kevin Cook, is also pondering what the market will do next. So it pays to read his well latest investment strategy article:
Steve Reitmeister (aka Reity...pronounced "Righty")
Executive Vice President
Zacks Investment Research
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On Tuesday July 1st, 2014, an important provision of a new law, House of Representatives Bill #2847, goes into effect.
So far, this story is being totally ignored by the mainstream press.
But this is one of the most important and dangerous pieces of legislation in modern U.S. history. It's going to cause major, major problems for every American and anyone around the globe holding U.S. dollars.
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