Holding Small Percentage Long

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August 16, 2006

I cut most of my longs from 100% down to 20% long today at the close. I expect 1 more up day and then some new highs and profit taking on Friday that takes the market down for that 1 day. The weekly NDX chart will show a buy signal by the close of Friday barring a major selloff over the next two days, which I don’t see happening. This means my weekly chart portfolio will cash in the shorts this Friday (I don’t want to jump the gun.). I’ll let you know though closer to the close on Friday.

The shorts in that portfolio are:

CLAY – sold at 14.3 currently up 21.75%
FLDR – sold at 10.39 currently up 2.58%
MKTX – sold at 10.38 currently up 6.34%
MIND – sold at 16.07 currently up 23.44%

ROSE – sold at 18.18 currently up 0.56%

SCHK (Which was merged into SIRO) – sold at 40.92 currently up 38%
USMO – sold at 20.46 currently down -7.19%

New picks (they will be buys) if the weekly signal holds will be posted over the weekend.


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