Friday, August 7, 2015

Market update

Previous market update here

We do not have a change in the market update as of now

VST/ ST - Sell
IT - Sell
LT - Buy

We mentioned that we will take a short position should the market close below SPX 2095. The index did close below 2095 on 08/04 and we did open a short position. However, we closed the position the next day as the market closed above it. 

In short, we do not hold a ST position now. The above update holds good until the next signal comes in. But, we did enter the warning (for the bears) territory already (see chart below). The confirmation would be a turn below the blue line that the turn (to buy) is in place. As long as the indicator is above the blue line, then the bears don't need to worry. I don't rue a missed chance to be short now, sometimes it happens. This stance is for the ST position only. We do hold a IT short position though.

If I were holding short positions now, I would not close the position. Coz we only gained like ~ 1% + with this sell signal , but I would have stops above SPX 2105.

We will keep you posted, GLTA!

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