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S & P 1325 – Time to Book Profits [ZT]

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发表于 2012-1-26 10:33 PM | 显示全部楼层 |阅读模式


Chuck's Blog  
← S & P 1325 Possible in Next Two Sessions S & P 1325 – Time to Book Profits
Posted on January 26, 2012 by Peter Madden
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This morning we are opening at S&P 1325 which I targeted on December 8th in my post “A Bull in Bear Clothing.”  Traders who heeded my thesis have been rewarded with an 85-point move higher in the S&P over the last six week without really any hint of a correction.  This has been an easy trade and very profitable.

On January 3rd, I posted a wish for health, happiness, and profits in “Merry New Year.”  I urged traders to stay long and strong maintaining my S&P target of 1325.  I postulated the Christmas rally would continue through January as corporate earning would trump European Debt fears and continue to drive the US stock indices higher.

Finally, I posted enthusiastic encouragement to hold long positions as I foresaw of blow-off top that would propel equities higher, achieving my targeted S&P 1325.  I postulated in “S&P 1325 Possible in Next Two Sessions” that our level was near and to be ready to ring the cash register.

Today is the day!

For those dedicated readers, I encourage you to book profits as I will unwind my position today in 20% chunks.  I believe there still exists a possible blow-off top to the S&P which may propel us to the 1345-1355 level (and with this trigger-happy trading environment we may even see some over shoot of this to multi-year highs of S&P 1374).

For very active traders (I may include myself in this depending on the price action today), one may consider holding the last 20% of the long position in anticipation of a quick blow-off top high which I believe could be experienced over the next seven trading session as money managers and individual investors alike chase this unexpected move higher.  Keep tight stops as higher prices are certainly not assured and ‘ Bulls make money, Bears make money, but pigs get slaughtered.’

Either way, I will be 100% cash within the next several sessions, and will post the optimal opportunity I can find to begin initiating short positions.  Not patting ourselves on the back just stating facts recognizing that the next trade may not work as perfectly as this one has performed.

发表于 2012-1-26 11:25 PM | 显示全部楼层
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 楼主| 发表于 2012-1-27 07:18 PM | 显示全部楼层
88.88% in Cash
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