I added some additional features today:
The Daily Dose gives you a feed of music videos from specific artists that I choose. Today's featured band is The Clash. Once dubbed "The only band that matters," the Clash has been a major influence on many rockers of today.
If you have any requests for specific bands you would like to see on The Daily Dose, let me know.
I also added a video feed called School of Stock. The School of Stock provides some videos on investing basics. You might find them helpful. Again, if you have any comments or requests in this area, send me a note and I'll see what I can do.
Finally, I added a news feed on Music Industry News. I may change the subject of the feed from time to time.
OK, now let's get to the markets. I chose to take a look at a daily chart of the S&P 500 today. Take a look at the following chart, and I'll give you my take on what's happening:
As you can see in the chart, the S&P climbed 36.63 points yesterday and closed above key support around 1,461. This is a good sign of strength in the market, and it took the doom-and-gloomers by surprise.
Whether the correction is over or not is impossible to say, but the market looks like it could build a nice base of support here.
The best advice I could give right now is to hold onto your positions and remember to always stick to disciplined sell stops. As the market rises, bump the sell stops higher accordingly and try to lock in gains.
As for buying, I would hold off right now and wait for the market to settle down and confirm that the correction is over.
Have a rockin' day.
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