Trimmed Down The Shorts

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November 14, 2009

I trimmed my shorts from yesterday, but am still short the RUT, have some FAZ calls, and some FAZ stock.

It looks like if this market is going to move down it needs to do it next week. The market has many divergences going on particularly the weakness in financials, however, divergences are not guarantees.

As far as SPX levels go, it closed right in a tight range. There are resistance levels at 1096 and 1097ish, but it may or may not be enough to contain the SPX, we could break higher. I think fake breakout or breakdown will occur before the real move.

Here are some charts I’m looking at:


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