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Trading Plan for Sept. 10, 2010

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September 10, 2010 – Comments (0) | RELATED TICKERS: SPY

Current Long Positions (stop-losses in parentheses): TICC (8.64)

Current Short Positions (stop-losses in parentheses): SPY (113.30), DELL (13.26)

BIAS: 25% Short

Economic Reports Due Out (Times are EST): Wholesale Trade (10am)

My Observations and What to Expect:

Futures are moderately higher

Today will mark the fifth time we have attempted to break through the downward trend-line, the last four times have been unsuccessful. Today it stands at 1104 on the S&P .

Though futures are up, the gap doesn't look like something that can hold once the equities markets open.

Came close yesterday to testing the 200-day moving average.

The bear kill-switch resides on a break of 1130.

A close below 1091 today would likely lead to additional selling next week.

Actions I Will Be Taking:

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