Energy Stocks in general have broken. We will begin scaling out of BJS, DVN and HAL into the next rally. ATW and EP charts are still intact and will be monitored closely.
We will open positions in the drugs and healthcare fields starting today as follows:
PKI - around $29
VRTX - around $33.50
WYE - around $48.50
Althought the portfolio will get roasted today because of two short positions going the other way (MA being added to the S&P 500 and WYNN releasing news that was not negative enough), we will be adding to the short exposure here as follows:
XLNX - around $23.50
BNI - around $97
FDX - around $75.50
MA will be covered if the stock hits $268
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