Wednesday, February 29, 2012

Target for rally met

The market finally to the 1376 level and it has not satisfied the 1.618 projection I originally posted about in December. In fact, I mentioned today's top on this post. And I have no idea why but these Fib numbers causes the market to react and today it did just that. With this Fib target met we now need to see confirmation of a change of trend. Today the market managed to once again test the TA successfully so we'll see how much longer it can keep above it. A good sell off would definitely break the TA and finally put the top in. So we might even get a gap down tomorrow.. we'll see.

I sold my SH positions at break even and exchanged them for more VIX. So now I am loaded on these things. If I am right on this being the top or near the top, I should be able to profit without trading as much as I did last month (22 trades). Trades were logged as follows:


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