Warning: Following my trades may be hazardous to your financial health. See Disclaimer.

Friday, May 11, 2012

Step Aside

While the put/call ratio is too high all day (too many bears crowding out the market), most of the bounces on my list have been under anemic volume (60 minute charts).  As such, it's best to just step aside.  The sell signal is still on, so I just hold some token shorts.

Defensive stocks such as PEP, HNZ, XLU, etc. are some that have been holding well during this time of uncertainty.  But if I don't already have them, I wouldn't get in.  I have them in my IRA, but my trading account is now 95% cash.

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