Going Long in Energy and Industrial Goods

Although I was away from my desk yesterday trying to earn some karma points, I may have already received them. I went mainly to cash on Friday on concerns the SPDR S&P 500 (SPY) may be headed quickly lower rather than higher.

In fact, it actually went even lower than I had anticipated yesterday. It did gap higher this morning, so I can take a victory lap and claim to have caught the low yesterday. I didn't because I wasn't trading, but I don't mind because it does give me a little added confidence that my read on Friday was the correct one. And for anyone who has traded for a number of years knows, a little confidence can be a very good thing....285 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

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