Yesterday's decline stopped me out of most of my positions again, for nice gains. As mentioned yesterday, these profits were achieved from my purchases of two weeks ago when the market dipped 1%.
Therefore, yesterday, I repurchased IJH at a lower cost as a means of maintaining at least a 5% position in equities, as explained last week. Based on early market futures I am in the black already and shall place stops later today to ensure another gain.
I still remain short/sell on the overall market (NYSEARCA:SPY). This is based upon clear sell signals generated on 3/8/2013 from my primary oscillators (Bollinger band and RSI).
I am still now anticipating a correction of approximately 4% to 9%. My goal is to begin buying aggressively between the Bollinger band low and 200 day moving average, now 153.2 (SPY) and 145.0 respectively, as a means of rebuilding back to 25%-28% of my overall portfolio in equities.