Dow Jones almost Flat thanks to Argentina

Argentina Girl Flag

Thanks to Argentina's demise its a welcome decline.

Big drop today in the major indexes as news of Argentina's default casues panic and selling.  This could be a great opportunity to enter the market via the SSO or DIA once the dust settles.

Stocks Bounce up goes the SSO

Bullish General Large Pic

Stocks advanced today and so did the SSO.

ProShares Ultra S&P500 (ETF)(NYSE:SSO) increased 2% today while the S&P 500 inched up 1%.

The SSO Beats them All

Bullish General Large Pic

Forget indivdual stocks, go with the gusto.

All praise the SSO.  That would be the ProShares Ultra S&P500 (SSO) which gained 4.14% today or $3.54 to close at $85.54.  Why buy individual equities when you can just buy the S&P 500 and be rewarded for the double the movement.

Embrace the Pullback: Buy the SSO

Robocopy - I'd buy that for a Dollar

Stocks will bounce back, buy the SSO.

Since Monday the ProShares Ultra S&P500 (SSO) has dropped 3.7%.  The pullback in U.S.

IN AND OUT INVESTING - Mastery

Stocks fell, we warned you. Now it's time for review.

We told you to sell before the big Powers-that-be met for 2 days and dissapointed the market (recall Waiting to Trade). Now that stocks have tanked, let's get into it.  We want you to consider Suntech Power Holdings Co ADS (STP), Direxion Daily Gold Miners Bull 3X Shrs (NUGT), ProShares Ultra S&P500 (SSO), ProShares Ultra Financials (UYG), and the iShares Dow Jones US Home Construction (ITB).

 

Wine and Cheese - Big Pic

What to buy so you may reap the rewards from those that sold Thursday.

Thanks to today's decline we recommend going long on the S&P 500, U.S. Financials, and U.S. Homebuilders.  That means buying up ProShares Ultra S&P500 (SSO), ProShares Ultra Financials (UYG), and the iShares Dow Jones US Home Construction (ITB).

 

Volatility - Large Pic

Mastery welcomes the decline and gets friendly with volatility.

We saw this pullback coming since last week and used that opportunity to exit stage right to 100% cash. The winner today is the iPath S&P 500 VIX Short Term Futures (VXX) up 8% everything else sucks.

Kool-Aid Dude Big Pic

Temporary correction, enjoy it then get ready to pounce.

This decline in the Dow Jones and S&P 500 will not last forever, most likely will not continue until Friday.  Be patient as you should be above the major indexes this year.  Even if you are not, just wait for a tick higher then buy the ProShares Ultra S&P500 (SSO) and the iShares Russell 2000 Value Index (IWN).


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Having cooled off from an overbought rally early in 2012, the S&P 500 looks attractive at the current level.  A big rebound up to the target zone is sure to surprise.

The S&P 500 is testing the November support zone, and therefore, is likely to find strength to push higher in the near term.  The June targets are outlined, and June is shaping up to be an

Stocks just went on Sale (UPRO, SSO)

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This is a great opportunity.  The S&P 500 is cheap at this level, and the sale is not going to last long.  It's time to do some serious shopping! 

Take advantage and look for some stock bargains, or just keep it simple and position in the S&P 500 index itself.  There is a ton of support at this 1305 level for the S&P, a