Tuesday, January 8, 2013

Minor Correction -- Still Bullish

As suspected we had a minor correction yesterday. There's a good chance this continues for a few more days.

The MTT has gone red so we got out of our long position yesterday. Since the long term trend is still green we'll sit on the sidelines.

Here's our plan going forward. 1. We will wait until the MTT flashes green again. At that point we'll go long once more. 2. If the long term direction goes red then we'll take a short position.

Sitting on the sidelines is something new for us. In the past once the MTT flashed red we went short. I'll monitor the results and see if this was the right move.

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