The S&P is now tempting to break above the 100 day moving average (purple line) on Ben Bernacke’s comments today. He didn’t say anything meaningful except that, once again, he would act only if necessary. This sent the markets higher. While the overall breadth is not great (the other stocks in our portfolio are up only modestly), the DIJA is up 87 points and counting- a big day. So here is the plan: I want to add to UPRO (the S&P triple) so bad. But, we can’t get emotional. If the S&P breaks the 100 and holds it, then we will take action. (Correction from yesterday by the way: we are waiting for a confirmation break through of the 100, not the 200- apologies).
