Tuesday, January 26, 2010

Resistance now what to watch

We posted real-time in our account this morning that we closed RIG against the 20 SMA -now it's over a point under.

This is the type of thing we'll have to keep an eye out for rest of week. If market turns bullish again and rips through resistance then we'll switch to break-out trading again, but until then we're buyers on support, and sellers on resistance.

Update: sold SU JRCC PCU TC positions, just keeping what's left of GDX AUY BVN PAAS into tomorrow.

Update II: sold the precious metals, flat in all accounts.