Thursday, February 10, 2011

2/10 11:40

Correction to earlier post.  I only carried 2% SSO overnight and sold it at 52.50, buying it back at 52.25.
Covered the silver short at 33.13. 
Currently holding 2% SSO, 1% ZSL.  4% TLT.
The DJI critical support M/A is 12,160, for a break 1.35% below at 11,995 and moving up.  The stock market formed a rectangle as it's 2nd wave up, which is suspicious for the bull case.  Normally see these in b waves.
Dollar needs an hourly close at 78.55 to confirm trend change.  As long as stock market trends up the dollar index cannot rally.   
I'm driving Margie to Albuquerque at 12:45 ET.  She has back surgery tomorrow.  I'll be online at the hotel after the close.

6 comments:

  1. Steve

    Tell Margie I said hi and that we are praying all goes well for her.

    Jack C

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  2. I pray that her surgery goes extremely well!
    DennisP

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  3. best of luck to Margie for a successful surgery and a speedy and painless recovery!

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  4. Thanks for the support, guys. Margie has instructed me to take her out for a night on the town after her 6th week.

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  5. Steve,
    Let me add my prayers for your wife. I bet that night out will be great after 6 weeks!
    Charles

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  6. On a different note,I am seeing daily sell signals on small/mid caps (today), S&P (tomorrow potentially) and developed international (tomorrow). I think it will be a short 1-4 day dip then one more surge which could set up weekly sell signals which are 1-4 weeks in duration. We also have monthly sells building in the next few months. All seems to line up fairly well w/ I1. One saying I believe in whole-heartedly: "Trust your model!"
    Charles

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