The Fred Report - Mid Week Update June 23, 2010

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Tuesday’s action continued the decline and has resulted in a short-term oversold condition.  We are essentially looking for choppy action now, and a decent buy signal either after a down June monthly close (and possibly a down July close).   Advisors should use this drop to slowly add stock positions (or fund positions, esp. in small and mid-cap stocks), looking for an advance later this summer.

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