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MDM - Model switches to Cash, August 11, 2011 pre-market

With the levels of volatility expected in the ensuing days, the model will take its profits here and move to cash.

The debt ceiling was raised so even though the Fed made no formal announcement of the start of QE3, expect it to come.

In addition, signs of selling exhaustion among leaders is rampant, and CSCO announced after yesterday's close a very strong earnings report.

So while it is true that oversold can become more oversold, the above conditions push the model back into a cash position.

Members may elect to sell their ETF positions outright, or scale out of them as they hit their sell stops. As of this writing, NASDAQ futures are trading +0.59% from yesterday's close.

This information is provided by MoKa Investors, LLC DBA Virtue of Selfish Investing (VoSI) is issued solely for informational purposes and does not constitute an offer to sell or a solicitation of an offer to buy securities. Information contained herein is based on sources which we believe to be reliable but is not guaranteed by us as being accurate and does not purport to be a complete statement or summary of available data. VoSI reports are intended to alert VoSI members to technical developments in certain securities that may or may not be actionable, only, and are not intended as recommendations. Past performance is not a guarantee, nor is it necessarily indicative, of future results. Opinions expressed herein are statements of our judgment as of the publication date and are subject to change without notice. Entities including but not limited to VoSI, its members, officers, directors, employees, customers, agents, and affiliates may have a position, long or short, in the securities referred to herein, and/or other related securities, and may increase or decrease such position or take a contra position. Additional information is available upon written request. This publication is for clients of Virtue of Selfish Investing. Reproduction without written permission is strictly prohibited and will be prosecuted to the full extent of the law. ©2024 MoKa Investors, LLC DBA Virtue of Selfish Investing. All rights reserved.
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