DE Holds the 7
So far DE is holding on to the 7 day moving average and I continue to hold. While my patience with it is growing thin, all signs still point to a coming breakout. Yesterday’s selling in the broader market did little to erase the bullish signals in the market. The fact that the financials continue to rise and set new highs is the biggest reason I am staying away from the short side for now. I had planned on adding some puts on the market today, but for now, I don’t have any signals to play off of.
Tomorrow marks the end of the Mayan calendar. Anything is possible and if you’ve watched a little too much of the History channel, then some puts may help you sleep better tonight. 😉 For me, I will stick with the technical trades. If the market reverses this afternoon and stocks trade below their 7 day moving averages, I will pull the trigger on some puts. As it stands now, I am more apt to add more DE and buy into the financial sector. Will be in touch.