I'm keeping an eye on the S&P 500. We have resistance at 1071 but if we break that lower, we could be in for some trouble. I'm eying adding to my positions in GoIP Global (OTCPK:GOIG) and Cord Blood America, Inc (OTCPK:CBAI). Gold is also hurting right now which doesn't make a whole lot of sense seeing as if we are truly in trouble, Gold should be our safe haven. I'm keeping an eye on SPDR Gold Trust (NYSEARCA:GLD) for another successful trade after my last one which I sold just under 110.
Be careful as we continue to dip lower and just broke resistance on the S&P 500. This does not look good for us in the near term. If you've been reading my blog, you should be well prepared for this as I predicted this bear market a while ago contrary to the pundits on TV saying buy buy buy. Good luck out there.
Disclosure: Long GOIG and CBAI but positions can change at any time