SPY Missed

I missed my entry point of 188 on SPY and it hit around 193 shot back up before I could get in.  I still think it has more room to go but I think I'll wait for another pullback.  Historically the chart shows that between November and December it makes a run due to the holidays.  I'll probably start scaling in around mid September.

SPY Is A Buy

People are talking about a big market correction.  Last week was a small one and I think it may be petering out.  If you look at the chart on SPY, the S&P ETF managed by Spyder, when there is a small correction, the price drops around 10 or 9 points and then heads back up. 

I'm waiting for SPY to drop down to $188 and then I will pick up some shares. The way this market is moving I think the bulls are still in charge.

Facebook Is A Buy And Hold Play

Normally I wouldn't say buy a stock if it is not paying a dividend, however because of the way Facebook is handling it's business I can see this stock appreciating in value like Apple.  I bought FB at the initial IPO and then sold it after the drop.  In retrospect I should have held onto it but I was day trading at the time and needed the cash for other stocks.  

The way that Facebook is buying other businesses and monetizing ads for users makes a lot of sense and I can see these new additions bringing in larger and larger revenue overtime.  I bought some shares last week and I expect it to go up over the next few quarters.