Today marks the day that one should be fully taking advantage of lower prices in the market. The S&P 500 stands at 2677 as i write this; that is within the range that had been indicated as a target. Should, as seems quite possible, the market opens lower tomorrow, lower reaches of my target area will be reached and will present an excellent opportunity to restore equity exposure to normal levels in anticipation of recovery in the markets. Please refer to prior notes as to attractive areas and companies on which to focus and which to continue to avoid.

John Stewart
Chief Investment Strategist

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