the Yuppie Pig

And the rally continues!
Next target is 780 on the SPX, which isn't really that far away at this rate. It was interesting to see how the market sliced through 740 on the chart. I think as we move towards 780, once must take profits and at least prepare for a pull back.

But for now, I'm happily long although lagging the market without a 100% long position. That's the price of trying to sidestep pain. I'll take the lagged performance for security. However, I extended my length today with a couple additional names.


One of the names I started is CAT, a totally disaster of a chart, but I believe its got some upward ground to make up for. My target is 30.


I also started a stake in THOR, as some of these biotech/healthcare/medical names get a bit of a bid on short covering and some resistance to the budget. I tried to find a name that was not totally overbought, and this one came up.


The USO position I started last night worked out really well today. Once that 60 minute chart is oversold again, I'm out. Either that, or i might just sell into resistance at 30ish.