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Pastimes : The Justa and Lars Honors Bob Brinker Investment Club Thread -- Ignore unavailable to you. Want to Upgrade?

To: marc ultra who wrote (6247)	8/18/2011 7:16:20 PM
From: marc ultra	2 Recommendations Read Replies (2) \| Respond to of 10065

Successful retest of the lows. We closed within about 2% of the 1119 S&P benchmark closing low set on 8/8 and within 1% of that low on an intraday basis. All the qualities you'd want to see in a successful retest were present, reduced volume, less new lows and other internals were all far more positive than the 8/8 climactic low. So we've had a successful retest and I'm extremely bullish at these levels. The caveat remains that a final retest of the lows could still be ahead of us in the Oct-Nov time-frame which I think is very possible if this drags out, but if I'm correct and the 8/8 1119 (and 1101 intraday on 8/9) lows have marked the area of the correction bottom, then prices will not get much better and we could just shoot up at any time now that we have a good retest put in. I've added some more FRIFX as fixed income/slight equity and a newly found conservative equity fund AUXFX to that conservative account I'm handling. I'm also more than all-in now in my personal accounts. We're also now back fairly close to bear territory so not much further down and I (and Bob) would be proven wrong.

To: marc ultra who wrote (6247)	8/19/2011 11:11:56 AM
From: joefromspringfield	2 Recommendations Read Replies (1) \| Respond to of 10065

Marc I agree with most of your assessment on Libya. I watch BBC America. They are providing good coverage. Last week the rebels were bogged down and low on ammo. The latest report has them in control of a key refinery and closing in on Tripoli. The big question is who will take over when he is out and will they align with the west or Iran. I think the reason European oil is so much higher than WTI is the conflict in Libya.