Monday, March 30, 2009

S&P holds 780

The S&P held 780 an hour before market closed. But the bounce off that level was weak. There has been some heavy put buying on WFC (Wells Fargo) and the weakness in financials prevented the S&P from making a stronger showing.

If 780 doesn't hold tomorrow, look for 750 to be the next strong support.

My holdings are minimal at the moment. 

Core holdings of AET.un, VT, KGC and AU.

Trading position in spwrb and UWM.

Sold SKF today for 14pt gain from Friday.

I want to see the S&P test and hold 780 again tomorrow before building my positions again.

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