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In the face of the sharp move higher today, I took some profits. I sold both 1/4 of my $NR position, and 1/2 of $SWSI.
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TOTAL PORTFOLIO:
EQUITIES: 30%
- LONG: 30% ($ARUN $NR $NTAP $SAPE $SWSI)
CASH: 70%
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Joined Apr 1, 2010
8,861 Blog Posts
Chess – Do you think we’re getting close to “safe” yet? Maybe a breakout of the downtrend then a retest?
This is a big win for the bulls–assuming it holds into the bell today. Unfortunately, we are still far from safe, as the 50 day m.a. is still sloping down, and the 200 day is ahead, along with other tough resistance. It should be a lot of back and filling, due to the technical damage we have inflicted. One possible way where it would be easy is if we had strong institutional buying come back in bid us up through all of that resistance.
EEM looking pretty darn good here.
Sure is. I may do a post on it later.
can you put an eye on F (ford) either Im crazy or Im seeing an inverted head and shoulder…
My friend–you are not crazy. Ford is looking much healthier. What strikes me more than the inverted h&s is the nice, tight base from which it is now breaking higher. Id expect some backing and filling, but it is looking much better after months of a steep correction.