Thursday, December 3, 2009

GAME OF CHICKEN



VIX is retesing the support line and SPX is failing at the upper range. Might be time for a little pullback here. I am short via GLD right here. Like i said here a couple of days ago: We will be stuck in this range for a while: Bears will claim victory on selloffs and bulls will claim victory as we retest the upper range but this range will likely win out until we get a strong catalyst to break it. I'd surely avoid the temptation to be too aggressive with short positions. I am leaning more bullish overall during this december month.

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