I really like what Fujisan and VirginiaJim have been saying in the comments section. The notion is that we're going to have one final, final, final push higher over the next several weeks before we can really Laissez les Bon Temps Roulez.
Generally speaking I am:
- Keeping my individual short positions (tightening stops as needed)
- Going long GLD, GDX, and DIG (tight stops)
- Doing large day-trades as needed as we await what we all hope is the ultimate top (assuming it wasn't put in earlier this week already).
Banging our way up to 1120 or so on the S&P, and crossing that magical 10,000 mark on the Dow, would be an amazing bull trap. In the meantime, I'm going to try to bag some bullish profits in select areas. I'm even going to take one final look at my Wrecks watch list for any lottery plays.
