Thursday, June 30, 2011

Missing the rally boat

For the most part, I missed this week's rally in SPY. I did not pull the trigger, often thinking that there would be some give back to this rally. Another factor, is that August sometimes spawns big moves. I don't have any open August positions. I may take on some smallish positions, but for the most part, am content to sit this one out.

QE2 is supposed to end today, and the bond ETF TLT has been falling the last few days. It is difficult for me to gauge the action, because the market is distorted by the intervention and traders jockeying for position knowing that the buy program is ending.

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