Kaboom! thats what happens when too many shorts line-up and press bets and the market isn't ready to top yet...haven't said anything past few weeks, because for most of the whole end of August we literaly pin-balled between 1415 and 1395...complete snoozer
Individual charts pointed higher and today we are getting the explosion. I'm going to let 'em run a bit more, but am realistic that we may be withing 15 pts of a pretty good intermediate top...my expectations would be 1447 will hold and a correction to the tune of 1300 or so....maybe 1280....
I will be scouring charts for short-setups if i can find many....I will also be firing of taking gains on my longs when price objectives are met...so far a few points away on GOOG, MON, GE....just know I will be looking to punt these any any other LONGS on a moments notice...I may not have time to post fills real-time...
I will update end of week "Model 10" performance against S&P 500 tomorrow....holdings look good and continue to outperform....critical decisions / positioning over next week will most likely prove to be significant...
enjoy today, but that euphoria out there....let's just say it won't last!!!!
with that being said...ALL LONG POSITIONS I'm holding are getting Stops raised to a minimum of B/E....
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