Wednesday, July 28, 2010

SGS is Still Short, but ...................

Just an update to answer questions / comments emailed to me via my blog. 

SGS is still short, but very close to going long.   A strong up day either tomorrow or Friday would turn SGS long.  At that point, RTS would cover its current short portfolio and open a new long portfolio with 10 long positions.  As usual, I would post as soon as that happens (if it does that is).

Personally, I don't think Market is going much higher.  At best, maybe SPX 1140 - 1160 sometime in August.   After that I expect an accelerated and nasty move to the down side.  I expect SPX to retest its March 2009 lows (700 to 650) sometime in 2010-Q4 or 2011-Q1.

Disclaimer: The views expressed are provided for information purposes only and should not be construed in any way as investment advice.  Furthermore, the opinions expressed may change without notice.

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