Thursday, October 4, 2012

Rally Time

The market closed up again today and the market is again short term bullish. And my hunch that the 5th on the bearish wave was going to get truncated a few days ago turned out to be correct. So now we are potentially seeing the bullish wave that will make a new high for the year. Where is the market headed is anyone's guess given the Q3 environment but as long as the trend is up, the market will continue to go up so I would advice people who are still trying to short this market to do it only under the Trend Average or very carefully. I've been saying this since June and those who didn't believe in my simple and free TA system are paying for it. The market is setting itself up to challenge 1500, a level many people thought impossible not all that long ago.

Long Term Portfolio: 100% Long
Short Term Trading Strategy: Closed VXX @8.98 as of 10/01 at break even.

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