Trimmed More Index Longs, Market Still Has Legs

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April 13, 2009

I further trimmed my index longs at the close. Glad I waited till the close to do it. One or more days this week should end down, and if that doesn’t play out, then next week should do it. I’m trimming in front of the imminent pullback.

Tomorrow I’m hoping for a gap up, and then I’d look to short the market for the day. However, I think there are sectors that will still perform, hence the reason I’m still long stocks. There is a broad market sector rotation hopping thing going on.

I posted my SPX chart in the post before this one. Consolidation/pullback on the SPX starts around the 870 mark, again on a gap up tomorrow we get there and I’m shorting. Then I want to get long for SPX 950.

Alot of my trades have been rocking lately, I mentioned them in previous posts.


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