MF4: Sorry you had to be the trigger. I will admit it takes courage and commitment to stay short in a rising market knowing the Fed is backstopping it most of the time. If the market had risen to 1440 and above I would probably have capitulated too, so I was only about 20 points away from profiting from this market weakness. I think this sell off has legs now that we've breached the 50 DMA to the downside. The Plunge Protection Team was probably told to cease operations temporarily so we could get to a 10-13% correction in order to give Bernanke the political cover to announce QEIII. That's why I plan to cover some of my shorts when we get to 1300 or so on the S&P. I think Bernanke comes in with some type of QEIII which will cause another run up to test 1440 at least. Once the effects of that round of newly created Benji Bux start to dissipate it will be time for the best shorting opportunity since Sept 2008. When that time comes join me in buying HDGE and PSQ for the ride down.
The 'CCI 200' timing strategy might be worth considering (see below). The buy and sell signals come approx 1-2 weeks after the CCI indicator first rises above 200 (sell signal), or falls below CCI 200 (buy signal).
The CCI plunged to negative 264 today, so according to this system, a buy signal will be triggered within the next 2 weeks or so -
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