Wednesday, December 30, 2009

Year End Update

Hey Folks,

I thought it was appropriate to give you an end of year update. I am still long stocks and short GLD. I also recently added a long position in USO. Oil looks poised to move considerably higher from here.

I am a bit concerned about the short term prospects of the US Equity markets. In short we are either going to move up around 10% or we may see a quick 5-6% selloff. If we get that at the beginning of the year, you need to buy. The longer term technical indicators still show more room to the upside. However after this upside move it will be time to sell and short stocks.

Update on AAPL. I recently ought calls in AAPL per my earlier call that it was going to $250. I still belive we are heading to the $250-$260 range. The technical pattern which caused me to buy calls is called a pennant. I Googled it and here is the first hit for those of you not familiar with the term.

I will keep you posted and try to update more frequently in 2010.

Thanks and Good Trading,

Tim Winters

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