Just about every trader I know has been asking for an update on where the S&P 500 is headed. I have been reading my favorite traders blogs, and will combine my forecast with their opinions, which hopefully will give you a pretty clear view of where the markets are headed.
Netflix (NFLX) short below 40.40 Lincoln Educational (LINC) short below 17 Shanda Interactive (SNDA) long above 39.15
Just a quick update on our virtual portfolio. The Money Flow Index on the SPY is starting to turn over a little bit, which is usually an indicator of a counter trend rally. Therefore I decided to take some of the profits we have already made.
Wow how the might have fallen. Upon the crash in crude oil prices, Alaska airlines precipitously ran from just over $10 to over $30 in just over 6 months! It had been a great long pick, but, all things must come to an end, and Alaska’s bull run is indeed over.
