Friday, March 5, 2010

Safe to Short

I believe it is now safe to short at will around these levels.  The anxieties about the job report are gone, and we are levels that have a lot of resistance above.  I don't believe this market has much fuel left to go higher, so I am erring on the bear side.  Timewise, we can churn for a bit longer at these levels, but price wise, I think we are near the top.  I have initiated a short position and will ride it till next week. 

1 comment:

Anonymous said...

LOng more CNLG @ 1.63