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S&P 500: 1,351.68 Change: +0.14%
TheInstitutional
TheInstitutional vip
P&P Score: 99.44   Points: 169.57   Accuracy: 62.77%   Average Pick Score: 8.79   Annual Return: 0.16% (0.63% since 3/4/08)  

TheInstitutional's Blog : Time to take profits and to begin building a short position!

Date June 16, 2009    Comments Comments (0)    Rate this post Recommend This Post (174)   
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I have been very busy and could not update the blog but for the ones that have followed my picks they surely have noticed that we have taken advantage of the up move with about 35% profit on the index and a nice selection of financial stocks with profit over 100% on many of them, on top BAC with more than 200% profit in few weeks.

Now is time to take full profit of the long position and reconsider the situation, my indicators point to a correction in the market, possibly a retest of the lows, we could face a bull trap with a run up above 950/980 on the SP 500 but I take this as an oppotunity to short the market.

I am starting building a lightly short bias on the portfolio and the market, and will build up the short side.

There is no real recovery yet!


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