Tuesday, January 22, 2008

Wild Ride

What a ride today. My inverse ETF positions (TWM,DXD) were stopped out for a profit after aggressively moving my stops this morning. I am only long bonds via TLT, which had a technical breakout this morning, but am keeping stops tight. At this point, my plan is to step aside until the market settles a bit, because things could be very choppy. A sharp bear market rally is in order, but so many charts are beaten up right now. There are very few that have held up, so I have no charts to post tonight. However, I do like how HWAY held up. I would buy it over 70 for a couple of points IF the market rallies with it.

Right now, capital preservation is key until the market finds its way. Good luck.

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