The trading in the past few weeks has differed from what investors, including myself, have gotten used to. From September until the Japanese nuclear disaster, sentiment ranged between euphoric and just plain bullish. It was necessary to step in pretty quickly to buy. Waiting patiently for the market to be become oversold was a fruitless endeavor. Recently, that has changed and patience has paid.
The market is currently oversold, as the S&P 500 has spent most of the past two weeks going lower. It is not a great reading but enough to keep me biased to the upside. I am positioned long heading into next week but will be pretty quick to lighten up on strength. Have a great weekend.