Posted by frtaylor on 11th of Jun 2012 at 12:11 pm
Right - I think a second time through Matt's newsletter is in
order. Certainly SPX last week broke through the bull wedge
that had formed on the daily. So a pullback would be just
that, and could easily play out in an inv H/S as Matt has laid out.
I'm not heavily short right now, and I have reasonably tight
stops on my shorts (VR, VRSK, GDX, PKI), and I'm not counting on a
new bottom although it would not surprise me.
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Right - I think a
5 min SPX
Posted by frtaylor on 11th of Jun 2012 at 12:11 pm
Right - I think a second time through Matt's newsletter is in order. Certainly SPX last week broke through the bull wedge that had formed on the daily. So a pullback would be just that, and could easily play out in an inv H/S as Matt has laid out. I'm not heavily short right now, and I have reasonably tight stops on my shorts (VR, VRSK, GDX, PKI), and I'm not counting on a new bottom although it would not surprise me.