Friday, August 22, 2008

Notice of Change of Bias on SPX and My Comments as of Friday August 22, 2008

Notice of Change of Bias on SPX and My Comments as of Friday August 22, 2008SocialTwist Tell-a-Friend
Fari Hamzei

Dear Jim,

I am reversing my existing LONG position (from April 10 @ 1360.54) and going SHORT S&P-500 Cash Index (SPX) as of the Close Today at 1292.20 (almost touching its +1 sigma).

We have a rough patch ahead of us. The problem is the unresolved turmoil in the Credit Markets as we enter the season of high volatility for our Equity Markets. Brace yourself (and your portfolio).

Here is our Timer Chart:

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