The market dropped the first couple hours then stayed in a small range the rest of the day. That is not the interesting part. Both the NH/NL and the Capitalized NH/NL went negative today. If the market if going to recover, it will need to do it quickly, or face the wrath of the bears!
We are due for a pull back and it would be nice to get one in to make another strong run before the end of the year. I closed out of all my long positions today. Four winners and one loser. Been mostly out of the market for a few months and have been slowly trickling upwards like the market has been.
If the market flips back, I will start buying again slowly. However, the pickings are pretty slim at the moment.
The new shorting strategy I have been testing is showing some promise. It will be nice to focus on it a little more and take it for more of a test run. Right now it has the new car smell to it. I need to break it in more to be confident it works. If this is a head fake, and the market, begins moving higher again, it is not my first choice, but so be it.
