We would suggest that if last weeks closing prices marked a "high water point" for the current stock market rally, then the excessive investor enthusiasm that was signaled by the very heavy flow of funds into the Rydex group of Mutual Funds Bull Funds, did a very good job of warning us of trouble ahead for the major indices. However, having said this, there is a bias for the stock market to behave itself in the period following the Memorial Day long weekend and into the first part of June. Thereafter, we would expect the indices to run into significant trouble and recommence their decline.
As always, we wish you the best of luck with your investments in the future.
Yours sincerely,
Anthony Waller
President
Teabull Asset Timer Ltd
www.timingequity.com
