http://www.peopleandpicks.com/ en-us http://peopleandpicks.com/blog/TheInstitutional/3319690/No-more-reason-to-be-long-the-market-SELL-SHORT/ The SP500 has reached a major resistence level and falling down. <br>If you look at the COT on the miniSP you have a picture of what is going on: DISTRIBUTION! Non commercial are getting out of the boat and speculators jumping in... <br>Together with the Goldman Sachs shamefull behaviour, probably just the tip of the iceberg...., the Euro zone crisis and the end of the forced government stimulus to the economies we have a pretty clear idea of what could be ahead, a strong correction! <br>I had underestimated in the last months the power of politics and wall street lobbies tyed to them but the fact that Goldman is under attack is telling to me that politicians are done with them and trying to restore confidence into people is more urgent than everything else....especially with deficit ballooning... <br>Something big is going on! <br>TIme to lock in profit for the smart guys that where riding the bull, time to be big short if you have the stomach!... Sun, 02 May 2010 10:17:46 http://peopleandpicks.com/blog/TheInstitutional/3070560/Time-to-take-profits-and-to-begin-building-a-short-position/ 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. <br> <br>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. <br> <br>I am starting building a lightly short bias on the portfolio and the market, and will build up the short side. <br> <br>There is no real recovery yet!... Tue, 16 Jun 2009 13:18:46 http://peopleandpicks.com/blog/TheInstitutional/2361442/New-lows-for-this-down-move-looks-around-the-corner/ I would not be surprise if this week we take new lows on the indexes there is too much negative pressure coming from all the corners of the global economy. <br> <br>I have a short term target on the SP 500 in the 770 area (the lows of 2002) then in the 650 area for the next 3 to 4 months. <br> <br>Anyway lots of trading and swing opportunities for short term players, personally I like the SPY options and mini SP futures.... Wed, 12 Nov 2008 08:26:47