Update at close

I was just out of a long meeting, and am feeling that I should give an update for those who keep visiting my blogs and even following my calls, although I am pretty tired. I will be very glad if I could help you make profits on my calls.

1) My boss is very positive on banks, FYI.
2) From what the Pivot Trend System on XLF, today's up on XLF is not big enough to end the bullish call from the system. Still keep bullish on XLF.
3) From what else the system is tracking, it trigged a signal for a short term turn-around.
4) So here is my plan: coming soon. I need to review all my charts, along with analysis of my system. (For now, I would lock profits on XLF, +7.1% gain, not bad.)

I just realized tomorrow is the last trading day for this week and for this month. It could be very tricky, as where and how market closes tomorrow will technically have a big impact on its weekly and monthly charts, and thus on its future outlook. Even though I am waiting for a big pop-up in finance, I don't want to have any long exposure into tomorrow, as the Pivot Trend System signaled a bearish sign at today's close.

So here is what I decided to do and already did, I loaded SRS AH to hedge my FAS long positions. I may sell FAS tomorrow depending how market opens, since I can not rule out the most bearish scenario: a revisit SPX 880 or even lower to close, leaving the monthly chart with a long-head hammer or even doji.

Let's revisit the chart I posted on May, 20th.
http://foxswing.blogspot.com/2009/05/clear-picture-now.html