Sunday, April 14, 2013

Upside for SPX Is Limited

Per my plan I sold all my long positions early Friday morning.  I believe chances are good that we see a sell off (5% to 10%) starting this week, maybe as early as tomorrow for the following reasons:

  • Number of new highs didn't expand (actually shrunk) as we hit new highs in major indices last week.
  • Since mid November last year, SPX is up 20% without a significant pull back, chances are good that one is coming soon.
  • SPX is trading near the top of its price channel, upside is limited at the best.
Twitter

Disclaimer: The views expressed are provided for information purposes only and should not be construed in any way as investment advice or recommendation.  Furthermore, the opinions expressed may change without notice.
on

Friday, April 12, 2013

Earnings ... Warning ... Earnings

Earnings for financials are falling short.  That is never a good sign for bulls.  Also, I believe a "budget crisis" is in making to be used to pass a budget that will punish the poor, the old, the middle class and reward the billionaires.

My plan is to unload sometime early today.  I'm not sure where we are heading, but it's time to take profit. 


Disclaimer: The views expressed are provided for information purposes only and should not be construed in any way as investment advice or recommendation.  Furthermore, the opinions expressed may change without notice.
on

Thursday, April 4, 2013

RTS Is Selling PHM and Buying BBY

Tomorrow Friday April 5, RTS sells PHM and buys BBY  in its place at the open.

Per my plan, I did my final buy on Wednesday at SPX tested its 20 D-SMA.

Twitter

Disclaimer: The views expressed are provided for information purposes only and should not be construed in any way as investment advice or recommendation.  Furthermore, the opinions expressed may change without notice.
on
Subscribe to: Posts (Atom)