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.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment