This week

Will be taking it easy this week as I dont like to trade much when there is little volume. My postings to the blog might be minimal if we have the rest of the week like today. Tomorrow I will try and make my daily in the first hour as it was like watching paint dry today in the markets. Action was poor and the sell off, although no heavy in the last 90 minutes makes me wary of moves here.

We should see some rotation into the weak strong since it is the first of the month, so watch for the retailers and financials to get some buying. I think that the agro stocks might get some selling in the next 2-3 weeks but we will see, I will make an official call if something sets up.

TRADE CALL :SOV out

Covering SOV short here. $4. geez.
Plus $4 on a $11 play is just too awesome.


ONLY WINNERS HERE

TRADE CALL: FNM OUT

FNM finally went to teenager status. Taking off all short here +$11.

ONLY WINNERS HERE.!!!!!!!!!!!!

Think we might get a bounce in the financials

This week

Well folks what will this week bring. I DON'T KNOW. As of now we are extremely oversold but that doesn't mean we can't continue the selling here. What I saw friday was some strength in the russell and nasdaq which puts me in a neutral stand for today and tomorrow. Now what I would love to see is a early push down and then some buying and MAYBE we can head a bit higher from here. Nope I am not turning bullish, far from it but we are extremely oversold here and the best scenario would be for a bounce then a flush again to lower lows.