Slope of Hope Blog Posts

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Official End of Santa Rally (by BBFinance)

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So there was little bit of juice left in the market after all. The day started poorly but ended OK. I however closed all my long positions in the morning, for two reasons. You can view the trading results here;

Reason one is that I think this cycle has reached its top. It does not mean we will start down drift tomorrow. On the contrary, tomorrow we may see another attempt to breach 1284 in SPX. But I am no longer comfortable on the long side even if the SPX  goes up few more points. The risk reward calculation does not justify it. So I would rather take the profit on the table and run. Leave something for the next guy.