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Market Tracker, 5-21

|Includes:DIA, IWM, LPHI, SPY, ProShares UltraPro S&P 500 ETF (UPRO)

      The market showed exceptional strength to end the week. In the last 20 minutes of trading today the S&P went up 17 points, or around a percent and a half. This was on very high volume, similar to the bottom in the beginning of February. This also falls in line with the line of the past three lows on 11-2-09, 2-5-10, and 5-6-10. I entered long positions in Life Partner Holdings and an S&P ETF. On a longer-term note [assuming today was a bottom] the uptrend is showing another sign of weakness. The low of this down segment was .4% above the last low. That is a measly improvement. It is looking likely that this up-segment will end around SPX=1215. If the market reaches that point, I plan to exit all long positions, assuming market conditions don't change drastically over that period.

Disclosure: Long LPHI, UPRO

Stocks: UPRO, LPHI, SPY, DIA, IWM