Tuesday, November 22, 2011

22 Nov 2011

 Gold stochastics (bottom) and TSV (middle) have mostly bottomed.  Still on strong white trendline with support at yellow if necessary.
 Becoming Oversold in the medium term.
Oversold in short term.

SPY has nearly met my initial 117.5 target and it doesn't seem panic wants to come like it did during the summer judging by the numerous VIX break out failures despite an inverse head and shoulders.  Also, TLT and TLO are still lagging the peaks. 

Panic could come, but I guess I don't care - I already made my decision (no, I'm still not bullish in the long term - or even medium term).  I got out of my shorts because we hit my initial target, we are oversold in the short term, I don't feel like playing with the stock market over Thanksgiving, and the days around Thanksgiving are usually very light trading days which can be easily pushed upwards.

Best of luck.  Happy Thanksgiving.  Enjoy your families.

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