Tuesday, January 3, 2012

SPY-IHS is in play

As I suspected SPY looks like it will run to at least that downtrend line above 130.  The conservative SPY holders should remain long, and if short set a stop at the open to see if we get some morning profit taking.  I intend to set my SDS stop below price at the open and move it up if the trade goes my way, then close both my ITM option and SDS.  My GLD calls and long miners will be up nicely today and none look ready to trigger a sell signal.

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