It was another negative week on the market.
This keeps with our prediction of the market moving lower.
We can see in the below chart that the market started to turn late February and has been heading lower ever since.
I expect that this pull back will continue through to May. We might have one more rally along the way I do not believe that the evidence is there yet for a bull market to start.
The economy is still weak. There is little evidence our leaders can do much to change it. Reason being they cannot agree on a course of action. I suspect too much self-interest.
Last week a State Members advised me that they are now in election mode for the next year. As such we will hear lots of promises and see very little action. As for the federal government, July 2014 sees the numbers in the Senate change. This could hold the key.
The current economy does provide us opportunity. There are plenty of good companies to buy if they get a little lower in price.
We are keeping our eye on about 15 companies that we would like to build a holding or buy some more.
Company earnings are solid but not enough to match prices.
I continue to wait for a pull back to buy up.