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CURRENT MARKET TREND: Up 5/27/16 @ 2090
Stop-loss 2026






Saturday, February 2, 2013

Out of Longs

Yesterday I sold the second half of my long positions and entered my first scale of shorts positions. I am now 25% short via TZA. The only long position I am still holding is NFLX calls.

2 comments:

  1. I agree with the chart u posted on Daneric's. Up to 1520.. down to 1400 .. and 1 last push up to 1550.

    What are your thoughts afterwards? I was thinking a wave 1 in May down to 1170.

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    Replies
    1. Sorry for the delay getting back to you, I usually don't get many comments. The lowest I have the SP-500 going is 920, I don't expect it to drop lower than that. If we do top in this area without a new high, the best market pattern I would follow is a triangle lasting until 2020 or so with the next low coming late summer to fall of next year.

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