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Monday, March 10, 2008

DOW and S&P500 Testing Key Support Levels

I drew this support line for the DJIA many months ago and I did not think we would see it tested given the good outlook for the economy at that time.

Note how the DOW is now back to its all time high set in 1999! If you were lucky enough to have sold on the day of the DJIA high and kept your money in CDs, you could be up about 50% rather than flat after all this time.

The next chart of the S&P500 shows it is testing its intraday low of 1270.05.

Forget about CDs, S&P500 Buy and Hold Investors would have been happy to have their money in a mattress since the peak in March 2000, eight years ago!

Hopefully, now is a great buying opportunity for us long-term investors who take profits when the markets are up so we can buy at times like now when the markets are down.

I added a new security to my "explore portfolio" Friday. To find out what I recommend for purchase today and my advice for the long-term, subscribe today and get the March 2008 Issue of my newsletter for FREE!

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