Great Trades

Great stock trades based on fundamentals and technical analysis.

Wednesday, February 18, 2009


Sold longs, now in cash

With the 135+ -point Dow rally and financials going from down 2.5% to up 1.5%, our trading model has moved to cash as the S&P 500 approached 800 resistance.

Our model will remain in cash until the S&P 500 breaks solidly through 800 resistance or gets oversold enough to be set up well for a rally. It could do so fairly soon, or there could be more severe selling ahead. At this point, we'll wait to see when we get the best risk/reward setup.

We will hold the remainder of our BAC trading position with a stop at 4.5, after having taken profits on a good portion of our shares on the rally.

Open Positions: None

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Disclaimer: Great Trades may have a position in all or some of the stocks discussed in this blog, but is not paid by any company to promote their stock. Great Trades contains opinions, none of which constitute a recommendation that any particular security, transaction, or investment strategy is suitable for any specific person. Great Trades does not provide personalized investment advice.

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