1 reply to this topic

[dTraderB]

As I indicated earlier, I closed most longs - still holding JPM, BAC, ORCL, SCO Jan calls partially Hedged with FAZ call and QQQ put Markets are extended on a ST basis and should pull back another 30 or so SP points from the high today. However, they are buying the dips. Who are 'they', you may ask - nervous fund managers and investors who missed the current rally and do not want to miss out on any year-end rally. Happens every December, except on a few rare occasions. Tech is weaker, financials are much stronger, could be ST rotation taking place. I am waiting this one out until Monday but may add a few more shorts on any move above current high made earlier today.

[dasein]

tangentially - any thoughts on year end tax loss candidates?

Edited by dasein, 02 December 2011 - 12:44 PM.