I'm watching the area between 1268 - 1270 on the S&P as a support zone that could generate an upside bounce. Should this minor support hold then I will go heavily into swing trades to gain short-term profits and see if the next high will be a higher high or a lower high. A lower high signals time to clear the decks and move into ultra short ETFs.
My portfolio is very small now and culled three move from the group this morning: AFFY, ATPG, JST.
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January 20, 2011
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