3.24.2008

afternoon trading


Markets are still way up but off the highest levels of the day- However, note the action in MA V WFC LEH MS GS- all red to flat after being way higher.


Taking off some longs here as the markets getting a little frothy on a short term basis- note Major index ETF's near mid 80's on RSI (2) and the VIX about 10% under the SMA 10.
In addition, the VIX seems to be in the lower end of the recent trading range- SHORT TERM SELL SIGNAL.

Be advised that I reserve the right to put em back on QUICKLY-

I suspect tomorrow may be TURNAROUND TUESDAY.


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