The market continued its sideways move today giving no indication of what direction it wants to take. However, the slight lower low and lower high plus another close under the trend average favors the bearish side. Also, the bullish patterns in place from last Friday were negated so the wait continues for the next big move. To be on the safe side, I bought my hedge back today and will un-hedge only when the TA gets breached.
Long Term Portfolio: 100% Long
Short Term Trading Strategy: Hedged with VXX @ $11.40 as of 09/04/2012
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