Wednesday, May 2, 2012

New High

I posted about a new high in May for the markets yesterday and today the DOW made that new high. And it is very likely the S&P500 and the NASDAQ will do so as well in the near future. In a way I think it would have been better for the bullish case if we would have had a proper ABC correction to the TA but as it is, the wave is pretty strong and it seems like it is the beginning of a bullish summer.

I closed my SDS position yesterday which I forgot to post and today I traded VXX intraday. But since it's time for me to go to sleep, I'll update the portfolio tomorrow. I am currently not long, just hedged and looking to go long at the test of the Trend Average which currently stands at 1388.

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