POSITIONS: Short Industrials (XLI) and SPY
Since February 15th, 2012 this is the 9th time I have issued a Short Selling Opportunity note. Maybe this will be the 1st time out of 9 that I am wrong. Maybe not. That’s the game. You either buy or sell here. You don’t hide from accountability.
Across my core risk management durations, here are the lines that matter to me most:
- Immediate-term TRADE resistance = 1405 (lower highs)
- Immediate-term TRADE support = 1388
Every time I do this, I feel like I have to re-live the last 5 years. It’s weird. People are pressured to buy high and sell low, I guess.
Given the fundamental growth picture in the world, this one looks as clear to me as the other 8 shots were.
As Gretzky said, you’ll miss 100% of the shots you don’t take.
Keith R. McCullough
Chief Executive Officer