Thursday, October 27, 2011

A Back Test Of SPX 200 D-SMA Is Very Likely Tomorrow

SGS is LONG (As of close of 8/24/11) 
RTS 200110825 Long Portfolio (Bench Mark)
RTS is selling AMZN and buying M in its place tomorrow at the open.
I am selling AMZN and buying BP in its place sometime tomorrow.

Today's rally was impressive.  Side money kept coming in all day long.  Volume and internal numbers were also bullish.  I think there is a very good chance that Market rallies into next year in a very volatile and news driven way.  My plan is to add more long positions as corrections occur (1.5% to 2% drop intraday). 

All major indices are hovering around their 200 D-SMA.   SPX is closed slightly above it's 200 D-SMA today.  There is a good chance we see a back test of 200 D-SMA either tomorrow or early next week.  My plan is to add more long positions when SPX back tests its 200 D-SMA.

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.