Superficially, the SP500 chart is still very much intact.
The market could always see a blow-out top, reaching 1340-1350, and any decline should be in the range of 3-5%, but I am patiently waiting.
Wednesday, January 25, 2012
Market Thought... light protection
I have some relatively light protection. Interesting intra-day action. The market started climbing around 12:20.
The equity rise should have correlated with the treasury 10yr, but it did not. Around 11:30, the 10yr started to collapse.
Seeing this type of action does not inspire confidence, at least to me.
Superficially, the SP500 chart is still very much intact.
I have already expressed my cautiousness, and I am lightly protected (via a light SPY put protection and EUO).
The market could always see a blow-out top, reaching 1340-1350, and any decline should be in the range of 3-5%, but I am patiently waiting.
Superficially, the SP500 chart is still very much intact.
The market could always see a blow-out top, reaching 1340-1350, and any decline should be in the range of 3-5%, but I am patiently waiting.
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