Today's gains have basically put the short-term models in overbought position. Because this is below intermediate moving averages and still in what I believe is most likely to be a larger correction or bear market under development, I am going to post a new bearish ETF trade here.
New Trade Order:
Place a "day only" limit order to buy SPXU at 38.50 for Friday, Feb 12.
Another strategy may be to enter a half-sized position at that limit price and another half-sized position at 37.50 which would fill a recent gap on SPXU.
Thursday, February 11, 2010
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