Suggested to “score on defense“ the morning of the big rally(11/18), which happened to be the day of the General Motor’s IPO (see post here). See below for an update of the price action since then.
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500 index is nearing a “fine line of support!” If long, I would want to harvest some positions on the break. If looking to score on defense and you don’t own SH, would want to make sure you have some on a support break.
Game Plan…Stop on SH holdings, 1,211.
Just following the patterns for what they are. Remember some call me Kris Kringle so I am open to good things happening around x-mas. As you know ck, the inverse position has a very tight stop!
Historic pattern of x-mas rallies – should this factor in at all? Being short through the holiday’s the last couple of years was not a good idea.