1000.....

Well we made it, SP's finally hit the 1000 level. The real question is, whats next? Since July the market is up more then 14% with no real pull back or consolidation in price. For a healthy market we need profits to be taken, higher lows to be made and overbought conditions to fade. I think by mid week we could see profits start to come off the table, and people rushing for the exits. That is when I will be loading up for the next surge higher. My S&P target for year end is 1150, but there is still a small percentage that we head to 700.

I have not added any new positions for a while, my income portfolio is up about 3% for the month of Aug and we have barely started.