YAWN DAY

Well after a huge day down yesterday we got consolidation on the market coupled with the bank's CEO's on the hill we were in for a no action day.
Well where do we go from here?? Your guess is as good as mine! Believe it or not we are still in a triangle coil but it looking more and more we will break it here soon, possible before the week is up. One thing I know here is that only traders are profiting and I am constantly getting a gut feeling we will test the Nov lows sooner than I personally expected. I wish we would bounce as this would set up a better trade but we are so weak foundation wise that no sector can pull us up to get a meaningful rally.
Last thing here folks before I go. I hearing people talking about the banks. Please stay away they are like poison. There is a better than 50/50 chance that nationalization will come to the banking industry if none of this works and I believe it wont work. The problem is too deep and the system is virtually not functioning. Also if you have you money in a smaller bank I would say buyers beware as I think the banking worse case scenario is not yet upon us. No problem if you don't listen but I am just saying what I think and I hope you don't get crushed.


One play for the road here- SHORT USO (26.08). Oil looks like it wants $20 area.


MARKETJEDI

Wednesday

Thank goodness I had stuff to do today- What a boring day. I am still short my SPY and it is gaining more profit. I will hold this a few days as I said. I think it will be worth my while