Trading Update
I've been up 5 out of the last 6 days. The bad news is coming in strong. Right now, I'm just waiting for a really bad day to hit the market. The last couple of days has just seen the market churn, with financials up against a 178 point loss on Monday, and down on yesterdays 60 point gain. I want to see the DOW drop a couple hundred and the VIX jump a few points. Then I will take some profits. Probably AIG, BSC. The fundamentals have really broken down for financials and homebuilders. Most corporations are paying substantially higher financing costs. This will take a huge chunk out of profits.
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