For a good couple of months I have been saying that the market was going to pull back. I have been saying that the bull move wouldn't be sustained. And I was right. It did pull back. But I was wrong about the strength of that pull back.
After running sideways and down for just over a week, all of the major US indices have put in solid gains for four straight days; breaking through the tops they set the past week. This is a strong indication that another bull move is in the works. Another indication is that the secondary indicators also show recovery in action.
For myself my positions have been unremarkable with meager profits. I still think playing the market is better than sticking my money in the bank as my returns are much more appealing as long as I don't get attached to the security I am investing in. My option positions in NG and ODP are both still in place and green. My straight stock position in NG is also in place although my profits from it's original opening is not as strong. I will be analyzing it more closely.
That is my opinion, you can take it or leave it.
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