Sunday, January 29, 2012

Indices Are Still Overbought

SGS is LONG (As of close of 8/24/11) 

In CASH (closed all positions @ SPX 1254 on 12/22/2011)
By all measures indices are overbought.  Chances are good that SPX tests its 1290-1280 support range sometime this week.  I'm still in cash.  Should we get the correction I'm looking for, my plan is to scale (25%)  into a basket of 10 top ranked RTS stocks (to be posted later, 50%) and 4 index ETF's (DIA, QQQ, IWM and SPY, 50%).

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.