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Dear Member:
I'll be travelling on Friday so there won't be any activity for me. I think that may be just as well since volatilities are pushing up a bit and that could be a bearish sign. After a fairly strong move, the markets are showing signs of at least taking a breather and I would not want to put on any new positions, particularly bullish ones, right before this weekend.
I am glad that I could preserve some profit in the IWF trade and it looks like it was a good time to get out of TMA. I think both are worth watching for a potential reentry down the road. The dip in the markets might only be some profit taking, but for now, I am staying light on bullish positions in view of the upturn in volatilities.
Bill Kraft
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