The Local's Take: Mid-Day Commentary

Good afternoon Traders and Investors,

I apologize for not writing this week, but I have a great excuse. I danced, danced, danced and... it worked. Park City was blessed with more than a foot of snow in a 24 hour period. I heard 9990 was knee deep with face shots galore.

Another reason for not posting stories is that my father is in town. Quality time with Poppa Kahn and little Shane. Tomorrow is a family ski day, one day after the storm, but the trees at Deer Valley should still be soft and deep.

The markets are, well, still bullish. The SPY is very close to its old high of 1150 - double top or breakout to new highs? We shall see. The Nasdaq is off to new highs since the previous one in January.

I am still not convinced the upside has much more, so protection is in place - oil and retailers are a few sectors that I am using to protect the portfolio.

Forex has been all over the place - GBP and EUR weak, AUD, NZD and CAD very, very strong. All relationships are breaking down, so you must adapt!!

A shout out to the U of U Lifelong Learning class - we covered a ton of material last week. We will review shorting, Fibonacci's, Moving Averages, Stochastics and MACD's to begin the final class on Monday.

Thanks to all of the students who have emailed with questions/stock plays.

Have a great weekend, be environmentally cool and see you on the slopes.