Heavy Selling With a Catalyst

Since noon yesterday, strong selling continues to enter the markets as the Fed discusses withdraw of its QE programs.  With the pullback, I am waiting for a time to buy as my longer term bias and indications are still bullish.  That said, I am not willing to try to catch a falling knife on this market.  I am looking for the SPX to pull back towards its lower bollinger band and find a little bit of support. With the VIX surging, option prices are rising which increases the risk. For that reason, I am looking to be very exacting on my entries. On my buyers wishlist are AAPL, VALE, CAT, and V.  Given market conditions, I am content to wait things out.

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Posted on February 21, 2013, in Jeffs 3k-100k. Bookmark the permalink. Leave a comment.

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