Friday, January 25, 2013

Down She Goes

As suspected the MTT turned red so we sold our TQQQ position. It was a brutal day for TQQQ, bringing our yearly profits way down. That's the way it goes and next time we might catch the upside.

I feel the market has turned. It tried to recover from the Apple earnings yesterday but it never really did. Today even though the market is up as I type this, I'm seeing more and more stocks breaking down while fewer stocks are breaking out. This is a sure sign of the market turning. Early next week we should have our sell signal and we'll start to take our shorts or inverse ETF's.

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