in terms of trading today…

1) it is friday so we don't want to make any major decisions…especially as next week we have a TON of corporate earnings coming out

2) a boring trading week isn't smart to force into something big on the bottom line on a Friday…risk/reward just isn't there

3) depending on how sharply we rally today we may close half of our bucket 2 short position in SPY…but we will have to evaluate as we go along today

4) other than that it's not  a good environment this week to add major positions in b2 or b3.  if and when we break above 1220 again on teh SPX we would look to add b2 longs in HIG, MS, some industrials, energy, and semiconductors


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