I got stopped out of TSO and DUG yesterday for small losses. I was due. I saw the news on PBR and therefore refocused my attention on HES. HES was flirting for a breakout close so I bought at the close just under $101. I sold this morning at $104.40. Right now I'm 100% cash. The markets to me feel like a calm before the storm. I'm talking about a complete capitulation to around 10800 or worse in the DOW. But everytime we run at 12200 some buyers step up. I see we are green again in the indices.
My gut says that the big boys are going to hold through earnings season and then dump everything shortly after sometime in May. This will result in a very slow and boring summer in the markets. Buyers would then return in August.
We will see how it plays out. This is really boring right now.
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