Tuesday, September 21, 2010
Safe to Short
With all the good news out, I believe it is now safe to short for a pullback. I emphasize, it will only be a pullback and the market will likely retest the highs made during this rally. I don't know when the market will go back down, but probably either Wednesday or Thursday should be a turning point for a 20-30 point pullback.
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I had to sell a small position of EWZ because it was at the highs, while SPX, IWM, & XLF were near the lows. The market looks like it's ready to drop for the next few days. We sold off on good housing numbers.
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