11
Aug
StockTock.com discusses the continued rally on Wall Street as the S&P gained another 9 points to close at 1305. Remember, this week is options expiration and caution is advised. We are looking to take profits on our S&P long position on strength tomorrow. Several sectors that we watch are at significant resistance levels and due for a pullback. These include the NASDAQ, KRE, XLY, XRT, and XHB. The US Dollar held and added to its gains today, putting further pressure on commodities, particularly gold. We also touch on IWM, XLF, USO, and XLE.


August 11th, 2008 at 10:17 pm
What’s your opinion as far as shorting the S&P at 1320, are you thinking it would be a good trade, or would you rather just wait for a pull back to 1291 and then buy again.
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