The levels in the S&P have not changed. 1230 then 1253 is next on top. The Dow is unchanged on the year, the Nasd is up 140 points, with 1253 being last years close in the S&P.

The dips in the broader market have just not gotten to where I felt comfortable buying again. For the past 2 weeks we have put in higher lows failing to probe the 1171-1155 area in the S&P.

You’re seeing levels fall just short across a wide array of assets. Yesterday it was AUD/JPY, just missing the 77.20-40 level by 20 pips, and then reversing.

Day Traders….The game is SPU/BONDS…..DAX/BUNDS….Be patient and you’ll get your opportunities.

The market is a Day Traders dream, Not so for long term investors. If the past 2 months have shown us anything, it’s that every-time we’ve seen a move over 5% in a day to a day and a half, you have to book your money or risk seeing it evaporate.

AAPL…388-391.50 is the level to watch this A.M. We have resting buy orders here… If we close below this area we will re-evaluate.

Model Trading Portfolio…Current Holdings

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