Thursday, August 18, 2011

Indices Are Drag Down To Create Fear And Panic

SGS is Neutral (as of close of 8/9/2011)
RTS is in CASH (Bench Mark)

My Long Term Portfolio
I'm 50% in (IWM, QQQ, SPY equal $)

Cash indices were dragged down by heavy selling of their future contracts.  It seems Big Money is trying hard to bring about a capitulation, maybe as early as tomorrow.

Tomorrow, SPX could sell off to test supports at 1120 (which very likely holds) and 1100.  If 1120 gives, selling momentum very likely would push SPX below 1100 to trade in upper 1080's to lower 1090's for a very short period.  A fantastic place to sell out of money SPY September puts.

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.