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Sunday, July 11, 2010

Market Thought... nothing new

My market thought remains the same since the 'touch and go' post. The SP500 is on the 14SMA, and the VIX is sitting on the 200SMA. If there was a scenario for the market to go down before the brunt of earnings, its this one.

My thoughts and thesis to the current market has stayed the same, and have done very little change to my portfolio. (I just closed a few IBM call options I bought when it was around 122 to beef up on some cash, but still remain very heavy in the name.)

On a related note, a few key banks are looking interesting. C and GS are set up very nicely. C already appears to have broken key resistances, and GS is on the verge.

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