Friday, April 17, 2009

Trading above R1 again today.

Just like yesterday, the SPX is (at 1:21pm Mountain) clearly trading above R1. But just like yesterday there will be no way to know at my fund cutoff time whether the close will end up being a clear break above R1.
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Therefore, I won't be making any moves today with my accounts not managed by mechanical methods.
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I still think the eventual break will occur to the upside but I'm not confident enough to take any positions until it actually occurs. I'm most likely going to be forced to buy on the first significant pullback after the break.