Sunday, January 22, 2012

Indices Are Overbought

SGS is LONG (As of close of 8/24/11) 

In CASH (closed all positions @ SPX 1254 on 12/22/2011)
 
SPX is up roughly around 10% since mid Dec lows, a month ago. Gains at a rate of 10% in a month are not sustainable, imo. I think a healthy pull back to 1290-1280 is very much in the cards and we probably see it this coming week.

I'm still in cash.  Should we get the correction I'm looking for, my plan is to scale into (25%) a basket of 10 top ranked RTS stocks (to be posted later, 50%) and 4 index ETF's (DIA, QQQ, IWM and SPY, 50%).

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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.
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