Friday, March 7, 2008
UPDATE On Our Calls
On 5 March, with regard to JRJC we wrote: "We look for $18.50 to be breached by Friday" Today (Friday 6 March) JRJC printed a low of $18.04 before closing at $18.35. On 3 March we wrote: "We hope you’re still parked with cash and no more than 50% of your account value in stocks." Today the S&P printed a 52 week low and tomorrow's Employment numbers may send the index further south. We hope most sincerely that you are at least 50% in cash. At least. At bare minimum. Today, Friday 6 March Jim Cramer ('Mad Money' CNBC) suggested that if John McCain wins the Presidency investors should buy Northrop Grumman Corp. (NOC) On 1 March we said that should John "Sidney" McCain III win the Presidential election, our readers would do well to buy NOC. On 27 February we said: "We caution equity investors not to commit more than 50% of their capital until the S&P breaks through 1475 on the upside, or retests 1270 on the down side. We suspect that 1270 could be tested when the Employment numbers are posted on March 7." Today the S&P and NASDAQ printed 52 week lows. Tomorrow's Employment numbers may put further pressure on the indices. PLEASE.. pay heed to Commandment 2: "Cash is King".
Posted by The Call Team at 12:17 AM