Locking In

I took the opportunity to lock in a 10% gain and cut ties for this trade if the QLD drops below $45 The CMI will continue to trade as the mechanical system does not use stops. The year to date results are posted in the left sidebar. Looks like we lost about 1% from one week ago.

Technically, the market looks like it wants to roll over but that hasn't happened in quite some time. If we get through the summer doldrums in good shape maybe the bottom will fall out in a classic October melee.

Check out this link if you believe there are similarities between the crash of 1929 to our present condition. Even if you don't, you have to admit there are obvious similarities and if we are in a bear market rally, look out below.