The Wrap 3/9/10

{+++}Today was another dull day, but still some stocks popped. I still don’t know if we are topping out or just consolidating, but I thought it was a good idea to take some profits so I telegraphed some exits on Twitter.

We still have substantial long exposure and until the bears get aggressive, we still have the wind at our back from the long side. Trimming is always good, and profits are made to be taken.

We are riding the oil patch to a decent degree and I’m hoping the group pops soon, the sector is consolidating and looks primed. Cooperation from the dollar will help.

No new names tonight, hope you guys had a good day. I will update tomorrow on the blog so stay tuned. Please check the P&L tab for changes and updates.