SP500 Levels Into Obama's Discussion...

11/24/08 12:16PM EST
I am sitting here in my hotel room in San Diego having to endure watching CNBC (the room doesn’t have Bloomberg TV). I must say, this show is an absolute circus of manic emotion. No wonder why this tape is so volatile. It's actually quite sad.

What's even sadder (if that's a word) was that few of these talking heads could recommend buying stocks last week. They opted to run from their own shadow instead. With the SP500 having rallied 12% in the last 3 hours of trading, I guess it's ok for the clowns to run around tooting their perpetually bullish horns again!

Back to the proactive process... here are our SP500 lines to manage risk around (see chart). We got very long last week looking for a +14% squeeze, and we are now staring right at it. The next move is to make sales, not chase bozo the clown.

BUY "Trade" = 751
SELL "Trade" = 839

Let's relax and keep it real out there,
Keith McCullough
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