Trade Thoughts

With most of the Asian markets closed last night, the market is rather sluggish this morning.  Even though the market is only slightly lower, over 70% of the SPX stocks are in the red.  This drop is putting many more stocks below their 7 day moving averages which increases the risk for the bulls. 

For a bullish entry, I want to see something like BAC close above its 7 dma and I would be tempted with some bearish puts on the market if stocks like BAC and GS weaken into the close.  For now, I will let the morning trade play out since strong entry signals are rather sparse. 

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Posted on February 11, 2013, in Uncategorized. Bookmark the permalink. Leave a comment.

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