Thursday, December 13, 2007

S&P 1490 Clearly Violated

Posted by TraderMark at 10:58 AM TweetThis
With that technical level lookings broken, I've topped off my Ultrashorts which are now up to 20% of the fund. Since this is a long mutual fund, 20-25% would be the maximum I'd go short. 20% remains in cash, I am not interested in buying anything at this point. I will hope that the stocks I am most interested in fall to their 50 day moving average and look for buys there. They are nowhere near those levels at this point.

I will be away for the majority of the day, suffice to say my personal account is far greater than 20% short at this time. 1440s look to be very doable soon enough. If that breaks 1400s and if that breaks it just gets ugly.

If the economic news were truly being treated serious I think we should be a few thousands points lower on the Dow... just my opinion.

I'll check back late afternmoon.

Posted by TraderMark at 10:58 AM Comments (2) | Edit This Post | Create A New Post

2 comments:

Parker Capital Management said...

Look at the action on NIHD today! amazing --- i added to my position on the sell-off but was way to early --- on no news I can find. It broke through support and quickly was down 10%...looks like an over-reaction to me, but technically is ugly

December 13, 2007 11:28 AM  
Anonymous said...

Just curious, how have your personal account performed this year (percentage terms)?

December 13, 2007 11:30 AM  

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