Thursday, February 9, 2012

Rising Wedge

The market made a marginal new high today but like I said yesterday the market is ready to drop. The rising wedge pattern confirms we are likely at a top so it's just a matter of waiting for the correction to begin. I used today's mini-rally to add shorts on margin so now I am leveraged short at 1345 and 1353. I will update the portfolio tomorrow as I am running short on time today.. on a side note, had I stuck with my VXX position I would be $2000+ ahead today (I'll remember that next time).

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