With a holiday monday, friday should be a squaring off day and I wont trust the action either way. Today we got a huge move on the administration plan on foreclosure but we have seen this script many times before and we will be where we were just before the leak of the plan occurred.
Believe it or not we are still in a tight coil and the bulls will take everything out of the bounce today to say we found a bottom again. I for one wont buy it but as usual play the upside if we get going.
Nothing much to say on the market while we are in this coil I surely hope we break out soon to get some super nice swings.
Remember ONLY winners here.
Thursday, February 12, 2009
Well Now what
Taking the last 1/4 lot on my SPY short proved to be the right move before lunch. The market rallied hard in the last 90 minutes of the day on news that the administration is planning some bailout of home owners on the edge of foreclosure.
Whether this is anything to rally on, I have no idea but have to play it as it comes.
Oil DEATH here and we really might head to sub $30 soon, very soon.
Gold is almost 950 and the commodities still looks like they might scream higher.
Lets see what happens tomorrow. I think we head lower into next weekend but we will see.
Whether this is anything to rally on, I have no idea but have to play it as it comes.
Oil DEATH here and we really might head to sub $30 soon, very soon.
Gold is almost 950 and the commodities still looks like they might scream higher.
Lets see what happens tomorrow. I think we head lower into next weekend but we will see.
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