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Following last Friday’s gap-up, the S&P 500 large cap index really went nowhere this week gaining only 0.2%. The large caps are still on our buy signal and no serious selling has yet taken place.
I opened a small short in Russell 2000 by purchasing an inverse ETF called TZA on November 19th. This was based on the fact that Russell is still bearish in my book. I was forced to cover my short on November 24th because trade did not go my way. I went away with a tiny loss because I sized my position appropriately.
In your trading it is very important to trade positions you are comfortable at!
Best Regards and have another great trading week!
Alexander Berger (www.MasterChartsTrading.com)
Open positions in: SPY, AGG (added), TLT (added)
Closed positions: GDX, XLE, TZA
New positions: DUST, ERY