Wednesday, January 27, 2010

CNO Closed..Market update

Closed out at 4.80 for a 4% loss. Not a biggie-the position was very small.Why? Things are getting increasingly murky and CNO hit our stop. I saw today that the 1-month T-Bill rate hit negative for the first time since March 26, 2009. That means people would rather get a negative return and seek safety than invest in other options. Not good. Houston we have a problem. It is more important to protect your "stack" than it is to try to advance during foggy periods. The markets are flirting with huge support and a break down would cause severe problems. Going to play-out the other positions with a keen eye and tight stops...and continue to build cash in case we get a massive sell-off. The market is on "Red Alert".