Got a huge bounce off of the 50 day moving average today. The Fibonacci’s held Friday and now the market is off to the races. If the fiscal cliff issues are resolved, look for 2013 to be solid during the 1st half of the year. Looking to add on any significant pullbacks.
Switched out of MA for a break even and went back to an old favorite in Banner Bank (BANR) as I feel there is more upside with this company than Mastercard and the technials are screaming a buy. Will look to trim UPRO, TEX, and VALE in order to rebalance the portfolio after this update is sent out. This way, instead of selling the entire stock and having to pay taxes on capital gains, we just trim what we were up in the stock back into cash. No further updates today unless we get a good enough pullback.
(We might just get that pullback after all if the S&P 500 keeps tagging the upper bollinger band like this above)