June 4th

3:20 P.M Reloaded a small short position in SSRI @23.8. Some stocks have been on a manic rally. e.g GS & AAPL. We blogged about potential targets in this post. The stocks are almost at their targets, maybe another 1-2%. That is *not* a reason to go short. What it means is, the time is ripe to look for a topping process.

10:20 P.M The picture has not changed much. We are still expecting another push higher into the weekend. FWIW, there is a short term low in the week of Jun 25th. We bought some long term SPY puts and added some shares of R. The stop loss is if the triangle breaks. We also shorted some more SSRI. We will still believe there may be another move up in silver, gold, oil, markets etc and one more move down in the dollar.