Wednesday, March 7, 2012

More Selling Very Likely Is Coming

SGS is NEUTRAL (As of close of 3/6/2012)
 
In CASH (closed all positions @ SPX 1254 on 12/22/2011)

 
 I think there is more selling coming our way. SPX very likely will test its 50 D-SMA either this week or early next week.
 
opader@gmail.com

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.

SGS Is Neutral

SGS is NEUTRAL (As of close of 3/6/2012)
In CASH (closed all positions @ SPX 1254 on 12/22/2011)

SGS changing to neutral from long means closing long positions and moving to cash, but I'm already in cash (since mid Dec 2011).

I think a "profit taking" correction has started and very likely continues until late Mar to mid Apr.  My guess is that indices will correct between 5% to 8% from their recent highs.  That puts SPX somewhere in high to mid  1200 and a possible testing of its 200 D-SMA.

opader@gmail.com

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.