the Yuppie Pig

Yesterday's gains were today's losses as I made a classic round trip on IYR. Other than that, my short in SPY offset a long in WMT. I also closed out TBT and LQD as I don't really have a view anymore on treasury and credit, as the direction will be based on the upcoming "tone" from the Fed minutes.


I started a short in ANF today with resistance above and it rolled over on the 60 minute chart. If this breaks to new short term highs, I'll have to close it out.


And here's the round trip chart. I had planned to hold it until the 60 minute chart gave a sell signal. I still has yet to do that, despite giving all of my gains up.


I'm still weary on the market, but the momentum is clearly bullish as the dip was bought nicely and pushed to 780, a major resistance area.

After that, march on to 800.