Milestone of $12.00 NAV Reached

In mutual fund world NAV = Net Asset Value = Price of your mutual fund

Every Marketocracy.com fund starts with $1 million and a NAV of $10.00

We just hit a milestone as of 2:30 PM, of NAV = $12.00 meaning 20% return as we near the end of quarter 1 of the fund's life; just over 4 days to go to the quarter is in the books.

Been a fabulous day with the fund up 2.45% on the back of a bevy of winners. I have taken cash up to 11.75% with the sales today in some of the high fliers.

If the market weakens I will be applying this cash into some short ETF positions but right now I think all bears are cowering in the cave until Uncle Al unleashes the next bags of liquidity into the market. As I've mentioned the past week, the playbook is very clear whether it be 25 basis or 50 basis - usually the market will rally on unexpected events - is anything Uncle Al potentially going to do Wednesday going to surprise us anymore? It just seems like deja vu with 6 weeks ago where everyone assumed 25 basis points, and then we got the aggressive move to 50/50 fed funds/discount. Will the same move really 'surprise' this time? Pundits were saying before the last meeting if the Fed were so desperate that it needed to cut by 50 that should spook the market because it meant they saw something far worse than they were letting on - however the market did just the opposite. Hence, I wonder if *this* time, when everyone expects a cut, and it would not surprise to see 50, and *many* expect the same playbook (fed cuts, market rises, all problems go back under the bed), that the opposite will happen. Whatever the 'reaction' in the near term, I am going to play it with a more cautious stance - I don't like big market moving events which can move things up or down tremendously on the basis of something that has very little to do with each individual companies fundamentals.

It's been a stellar past month, and this pace can't continue indefinitely, but I continue to knock on all wood products I pass by. Usually when it's this 'easy', the market has a way of knocking your teeth out :) So I am going to find my mouth guard.

Long teeth