Market Commentary

7 February 2012

       

"A man can't spend years at one thing and not acquire a habitual attitude towards it quite unlike that of the average beginner.  The difference distinguishes the professional from the amateur.  It is the way a man looks at things that makes or loses money for him in speculative markets.  The public has the dilettante's point of view towards his own effort.  The ego obtrudes itself unduly and the thinking therefore is not deep or exhaustive.  The professional concerns himself with doing the right thing rather than with making money, knowing that the profit takes care of itself if the other things are attended to. A trader gets to play the game as the professional billiard player does - that is, he looks far ahead instead of considering the particular shot before him.  It gets to be an instinct to play for position."

 

                                            "Reminiscences of a Stock Operator"

                                                      Edwin Lefe'vre

 

We are now closing in on the 1350-1370 area on the S&P 500 index that I mentioned in my last commentary and as we approach it the market internals have improved enough for us to say the probabilities now favor another leg up in teh bull market that began in March 2009.

Gary and Dianne

 

 

 

Note: this message is a periodical commentary about the market, world economies, and investment opportunities that come across our radar screen. It is not intended to be a solicitation to buy or sell any securities. The news and ideas discussed have a part in guiding our investment decisions and in the management of each and every one of the portfolios we manage. I hope you enjoy this service. If you have any comments or questions, please let us know. If you would rather receive this commentary via e-mail, or not receive this update at all,  please contact us at:  postmaster@maringroup.com

  a