Monday, April 30, 2012

No Market For Old Bears

 SGS is NEUTRAL (As of close of 3/6/2012)
In CASH (closed all positions @ SPX 1254 on 12/22/2011)
In CASH (closed all positions on 4/27/2012 at close)
Opening Following positions at open on Monday 4/30/2012 and closing on Friday 5/4 at close or if a goal of 2.5% portfolio gain is reached during the week.
  • Longs (10 Positions Equal $): GE  JPM  WFC  RIMM  SLV  GLW  NWSA  XLE  CX  KEY
  • Shorts (10 Positons Equal $):  SBUX CL  TWC  JNY  CXW  ALXN  NUS  SPY  SPY  SPY
SPX bounced of support at 1360 level last week and is rallying to challenge its recent multi-year high of 1422, but before getting there a sell off to test its Primary Uptrend Line (PUL)  at or around 1390 is very likely.