Certainly the market has exhibited behavior consistent with turning points. Buy the dip, the investing paradigm of the past 4-5 months, worked less effectively these past two days, as each time the market gave back its gains quickly. Should the market reverse from here, one couldn't say it didn't give fair warning. However, the drop from today's high was stopped in fairly short order, indicating that there are buyers willing and able to defend support levels. Until those levels are breached, the bulls have the upper hand.In another indication that the uptrend may be in trouble, we bought VXX today, and on impressive strength it closed near its high. VXX has been trending inversely with the market, so this is unusual.
| Current Holdings | ||||||
|---|---|---|---|---|---|---|
| Ticker | Basis | Closing Price |
Perf. | Sell-Stop | Addl Exit Guideline | Chart |
| GS | 160.91 | 164.94 | +2.5% | 162.59 | N/A | Chart |
| FXP | 10.04 | 10.25 | +2.1% | 9.65 | N/A | Chart |
| SRZ | 2.19 | 2.15 | -1.8% | 1.98 | N/A | Chart |
| PAL | 2.97 | 2.87 | -3.4% | 2.81 | N/A | Chart |
| VXX | 57.34 | 58.26 | +1.6% | 56.06 | N/A | Chart |
I'm carrying forward yesterday's shorts, but also throwing in a couple of longs that have decent-looking charts.
| Ticker | Entry | Exit A | Exit C | Chart |
|---|---|---|---|---|
| SRS (Ultrashort Real Estate) | 11.94 | 11.37 | N/A | Chart |
| QID (Ultrashort QQQQ) | 25.79 | 24.94 | N/A | Chart |
| SKF (Ultrashort Financials) | 27.76 | 26.31 | N/A | Chart |
| REG (Regency Realty) | 33.66 | 32.14 | N/A | Chart |
| GDX (Gold Miners ETF) | 40.01 | 38.99 | 38.78 | Chart |
Please refer to "How To Trade The Ideas" (right-hand side) to read this table.
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