Wednesday, March 7, 2012

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.

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.