With my Roth IRA experiencing withdrawal symptoms, somehow my cash-heavy SBA actually ended the day with a daily gain courtesy of CENX and FOLD.
Anything else in the green today involved either a long put or a short call.
Buy on a dip? Not till June 2012 levels, I say!
As it stands, over 30% of my Roth IRA is unhedged and BAC has taken an 8% hit since last week.
The market is clearly rejecting the tops and volume has spiked with today's sell-off.
GS - 1.86x 10-day volume, closing below daily 50% Fib level
BAC - 1.4x 10-day volume, closing below daily 50% Fib level
MS - 1.46x 10-day volume, closing below daily 50% Fib level
JPM - 1.27x 10-day volume, closing above daily 50% Fib level
Does anyone else notice a potential triple top forming on the S&P 500 chart going back to 1950? Maybe, just maybe, I should look for some more puts to buy further down the road!
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