It appears that we are close to finishing the latest greed phase on the SPY trend line. In anticipation of this I am cleaning out some long positions I have had for a long time:
MWTRX Mutual Fund Intermediate Bond fund
SSAIX International Stock fund
XLY Consumer ETF -- wrote a $29 November ITM covered call to close this out
XLE Energy
IJH Midcap S&P 400
Of course, the market might decide to go on a big upswing instead of going back into fear, but I really am expecting the market to go into a more lateral, higher volatility mode pretty soon.
Tuesday, November 17, 2009
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