S&P 500 Update 2/24/11 (SPY @ 131.02): Punching out. It has been a nice, long ride, but I am punching out for now. I maybe a bit early but we had two strong down days on very heavy volume after a very long advance. I can always re-enter, perhaps at marginally worse prices, if the market rise resumes:
Technically, I should wait for the 20-day to get hit, but given the extent of the advance, am locking in sizable profits.
Technically, I should wait for the 20-day to get hit, but given the extent of the advance, am locking in sizable profits.
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