Market view

Today will be my LAST UPDATE for this week as I'm going on Friday vacation until Wednesday next week - so no updates in this period of time :-)

I hope if you have made money on my calls - please make a donation thank you very much , as I have called the big move dowin in markets since summer 1350 level and calling for a big move up since 1080 on SPX.

A pullback is very much due now imho - and therefore as we kept moving higher and higher - and hit my upside target of 1220-1225 area , I took a short position at 1220 SPX (for a trade).

I wanna remind you - I'm however STILL LONG EDC 3 x bull from 11.75$ but I have a stop loss in place now at 17.5$ which means if we gap down nicely today - then Im taking my profits in EDC - if we dont gap down I will keep holding it until I stop out :-)

I'm still long lots of small caps - but I got a first position in TZA 37.9$ yesterday as a hedge.


Conclusion:

I remain long EDC and small caps - will get stopped out in case we gap down and then I will take major profits in EDC from 11.75$ to today swing trade BIG MONEY MADE for those who went long with me - and if you made money on the upside I would appreciate a donation as I've only got 4 since this summer where I've called the move down from top and the bottom of 2011 for now.

I took a hedge position in TZA 37.9$ and will add if it gaps higher today - if we gap up higher I will possible bail out my TZA trade.

So all in all expecting most likely a pullback but a pullback should be BOUGHT heavy into imo.