There continues to be some underlying decay in the market — note below that small and mid-cap indices are showing short term weakness in the technical model, while large caps (usually the last to fall) are still ok despite the Friday drop.
For the July 20th meeting of OTM investment club, attached is the financial report.
Attached are the minutes from the June 8th meeting.
While there may certainly be instability this week as a result of the ongoing financial crisis in Greece, the more interesting observation is the number of market technicians and others that are saying that Greece is the tipping point and that the market will head toward correction as a result.
Members of the Club voted 6-3 in the survey posted several weeks ago to dissolve the Club. That vote includes “Yes” votes from Dan, Ed, Roger and myself.
We actually have a distinct interest in increasing the level of participation among the group around which securities to buy, technical timing techniques, asset allocation and other investing related items. It is just our opinion that this can be done by moving to an active, intra-month electronic environment.