Thursday, July 7, 2011

Fundamentals Always Come Out In Charts First

SGS is Long (as of close of 4/1/2011)
RTS 20110404 Long Portfolio (Bench Mark)

My Long Term Portfolio
My Short Term Portfolio

Oscar Carbonni who is a trader based in Vegas often says: "Fundamentals Always Come Out In Charts First".  I think indices are telling us that the employment data tomorrow is going to be better than expected.  If so, we should see new highs for NAZ and possibly RUT early in the day.  A big rally tomorrow would push indices to overbought levels and we could see aggressive profit taking before close.  I'm planning to sell out of the money covered calls against my long LT positions early in the day.

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