Thursday, December 11, 2008

Neutral market position pays off.

This market continues to tease both the longs and shorts. IMO today's drop was because of the stalled GM/Ford bailouts (Congress will drag their feet, but they will ultimately pass the damn bill). All I know right now is that we have sliced through alot of support points on the XLF, SPY and IWM (the USO interestingly is still in tact but I am not optimistic).

I continue to remain market nuetral (50% long and 50% short)...fyi my portfolio was up .34% today so I feel good about my current allocation. Of course I will not become complacent...that got me into trouble last time.

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