Expiration Week - MAY 2009

We will begin the process of routine rollouts and adjustments for all of our ST Income Trades and Hedges tomorrow.

We waited a bit longer this cycle just due the fact that we have been waiting to see if this rally can be sustained.  The NAZ has been leading the way… however… the NAZ has now failed to break back above its 200-Day MA for four (4) straight sessions, after a weak BO above it a week ago last Monday.  The NAZ is still holding above its 40-Week MA, which appears to providing support.

Neither the DOW or the S&P have yet to mount any serious challenge to their respective 200-Day MA’s, or to their 40-Week MA’s, though the S&P is now very close but failed to break above it yesterday or today.

Looks like caution is still the watch-word as we approach expiration Friday.

Coach BD