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I will be selling the positions in NDAQ and ABBI (reporting earnings before the open) on Monday and adding UAUA. Yuck I hate airlines but that's the pick. Take em' as the come.

After Mondays exits I will have:

PNRA

BEAS

adding UAUA (Monday)

That will bring my exposure going into the week to 60%. I suppose that's about where I would like to be. A bit high maybe but a couple up days for present holdings will knock that down pretty quickly.

Don't forget the one year anniversary of the tracking of the blog picks is on Wednesday - so look forward to some analysis of the annual results the end of this week. You can always track the trades of the blog on the Trading Performance link on the right hand side of the blog under links.

A relatively quiet week for new economic data may keep the profit taking at bay for a bit. I suspect we'll have a choppy week ahead. The election will exert some influence - just not sure how. Those small double tops in on the higher beta indexes do have me concerned about an intermediate term top. I will be watching those weekly trend lines very closely to see how we act around those key levels if we do challenge them.

In going through some of my charts this weekend I came across a stock that if I were the shorting type would definitely catch my eye. The stock is Federated Investors Inc. (FII). As with any shorting strategy it tends to be fighting an upwardly biased market. But if the market were to roll over I feel this one would have a little room to go down if it took out that trendline were sitting right on presently. Just looks like it has run into some serious resistance just overhead. But as many of you know I don't like shorting off the daily charts that much. As I look at the valuation ratios versus it's peers it does not appear to be hugely overvalued. Purely a chart call here.


Have a Great Night!

Dave Johnson

dayvejohnson@gmail.com

http://dayvejohnson.blogspot.com

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