I entitled this forecast “How Quickly We Forget” for a reason. It’s been amazing watching the talking heads on CNBC, and the poor “public” who thought the 20% rally was a return to the good times. So sad, so sad indeed. So sad that hope causes people’s memories to fade so quickly.
Does nobody remember December [...]
Previous Virtual Portfolio Update
Footlocker (FL)
Hanging on at these levels. I’m certain the markets are going to be headed sharply lower over the next couple of days. That said, Footlocker has been bucking the trend, and headed higher since late December. With a strong break out of a 3 month trading range, or slim-jim.
The weekly [...]
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.
At the open, the portfolio contained the following:
SPY – 32 shares [...]
Today the bulls gave us the perfect opportunity to add to our short position on the SPY. If you haven’t been following this trade, here’s the link to the previous update (The original pick was made on Twitter)
