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  • Market Correction Still Coming

    Posted on April 8th, 2010 3 comments

    Wow, I’m a bit surprised myself that the S&P has stayed above 1160 for this long, in fact it hit 1185 which was my high point. At this point (1185), I’ve decided to start shorting the SPY and build my short on the QQQQ, the further it goes up, the more I’ll short and wait for a correction. If the S&P hits 1230 before it hits 1115, all my bets are off and I’ll take the loss. I’m confident that will not happen. ┬áRemember, the market is like an elastic, the more it stretches, the bigger the correction :)

    Also, I’ve liquidated all my gold stocks and ETF’s until the correction takes place. The only commodity I’m still holding it physical gold.

    It should be a great few weeks of trading for everyone following my lead. Enjoy!