Tuesday, February 1, 2011

2/1: Hold

4pm update:  One of my indicators, which by itself isn't enough to produce a short signal, is indicating the market is overextended and favors a small pullback or consolidation period before possibly continuing higher.  I grabbed some TZA at 14.40 as no shares of TNA were available for shorting.   Hopefully we see some type of retracement the next few days.  I don't expect much downside.

Earlier post...
The system will remain on the sidelines again with another hold signal.   Meanwhile, I'll be establishing a short position sometime today, simply on a hunch.  Since it is against the recommendation of my system, it will be a small short position.

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