Wednesday, January 20, 2010

What To Do Now?

Hey Folks,

This type of environment can be difficult to interpret. With that being said it is usually best to sit on the sidelines and wait for the opportunities to come to you. Most of the technicals say that the market should see a short term sell off. Contrarily the VIX is still showing the possibility of a greater upside move. That is why I am still recommending staying on the sidelines. It is best to wait than to guess.

I still see more weakness in GLD due to the rally in the dollar off of it's 50 day moving average. Hopefully you took my advice and took your profits off the table in USO and BAC and GS.

I am still long AAPL into earnings but very cautious. As for GOOG, I have no position in it but I think there is a chance we could see much lower prices before getting long. I am never excited around earnings. There is always the chance of the unexpected.

Thanks and Good Trading,

Tim Winters

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