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02-Jun-09

2nd June 2009 - Futures up in an overbought market.

Today's signals are a bit mixed. S&P futures are trading up 2.5 points at the moment, but I'm still expecting a bit of profit taking considering the ever present 200-day moving average being crossed and overbought stochastics on the daily and 60 minute charts.

I'm looking to make my portfolio a little more market neutral today as I'm expecting a mixed S&P today and surely a bit of profit taking tomorrow. As a result I will be selling ym SIVB and PVA positions which are trading near their targets and are becoming overbought. I'm expecting the BKC (Burger King) short to add a bit of alpha to my portfolio today as it was around 2% down yesterday (in a heavily bullish day).

Tagged Stocks: SIVB, PVA, BKC

 

Posted at 08:27 in Strategy  |   Permalink   |  Top

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