Friday, March 20, 2009

Expect a Short Term Pullback

The strength of the recent rally is not surprising and is probably due to option expiration this week. However, I do expect a pullback due to multiple indicators, including TICK, Put/Call ratio (CPC) and Stocks over 10-day moving averages (SECTOR-BREADTH). Therefore, I look for closing of my long position today and wait for a better entry point in the near term.


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