(Friday stock market update and chart added below.)
Bob Brinker says he is still looking for an opportunity to recommend a new S&P 500 Index "attractive for purchase" level. This would be for new money, since all of Brinker's model portfolios have remained 100% invested throughout this entire bear market megatrend.
Brinker removed all of his prior buying opportunities on September 16th and said this on November 8th:
".......But I have not yet reached a point right now where I have been willing to upgrade the recommendation on the stock market right now from dollar-cost-average to buy. I do anticipate as we move forward that there will be an opportunity to upgrade the stock market recommendation, which is currently for new money -- we are talking new money -- as you have, which is currently dollar-cost-average, I do expect there's going to be an opportunity to upgrade that to buy a recommendation. But until those conditions fall into place, I would remain on a dollar-cost-average approach........"The market has just had a rare five-day major up-trend from the intraday lows:
Friday, November 28, 2008: Now we are nearly back to S&P 900. It must be painful for those who heard Brinker say he was looking for a new-money buy-signal just two weeks ago, when they contemplate Brinker missing a 20% gain from the mid-700's -- or even the mid-800's.
For the car lovers who read this Blog -- this is my Idaho-brother's classic car. I think it is a 1936-37 Ford or Plymouth. Someone will correct me if I'm wrong. 8-) This was taken at my cousin's house in Lakeview, Oregon. My daughter and son-in-law are in the rumble seat.
