Holding Steady

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July 13, 2009

Scenario 1:
I had clues that this rally could happen. If the downtrend is going to hold, today’s highs and tomorrow’s should be it for the week. Later in the week there should be a mild selloff and then the downtrend would resume.

Until things change, this trade is still on despite this move up.

Scenario 2:
The downtrend will be broken this week and we resume the original uptrend and then the SPX gets to 1000-1100 area. Obviously I’m not positioned this way, but I’m open to it.

I’ll know more on Friday if I’m wrong.


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