There is little new to report this week as we continue to work our way higher into the typical seasonal peak of April-May-June. As the cliche goes, 'Sell in May, and walk away' suggests, I shall be looking to exit the market in earnest once the seasonal rally has exhausted itself. That hasn't happened yet and we currently are no-where near any sell signals so for the time being I am long and enjoying the ride. I shall re-examine our position should either the 104.15 level be breached or our upside target window of 125 to 126 be taken out.
From a 'traders' perspective, recent suggestions to readers (AOS-V and SSW-NYSE) have done extremely well and those that did participate are encouraged to take profits when CRI does.
Since the 13 EMA is still very comfortably above the 30 SMA, 'investors' should be long and stay long. Once this relationship changes, 'investors' will have a signal to act.
That's all for this week,
Brian Beamish FCSI
The Canadian Rational Investor
the_rational_investor@yahoo.com
the-rational-investor.com
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