Wednesday, March 17, 2010

Bookkeeping: 2nd Half of Index Position Exited as S&P 1165 is Broken

So far so good.  Out of the 2nd half of the index positions as outlined an hour or so ago, once we broke S&P 1165.  No questions asked.

Now I have to wonder if my theory of how this move ends will play out.  [What's the Potential End Game for this Move]  If we actually had a selloff from here, my old school theory would be near perfect, within about 5 S&P points.  But, for all I know we gap up over S&P 1170 tomorrow morning.  A time to observe for now, we squirreled away our gains and can let those who enjoy the high wire try to keep the act going in increasingly thin air.

Next long index positions will be on new highs, i.e. over S&P 1170. 

Broken record alert: "we are so overdue for a pullback".

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