Talking heads

Well folks again hearing the oh this is the bottom oh this is it again from the talking heads. Well as I said I expected a rally and expected it to run somewhere in 750 before resting. Well today we hit 750 on the March contract while we rolled over to the June contract which printed lower. My caution is too much too fast, I mean why are we bullish here, did something happen that I didn't know about. It is just a short covering rally to ease the pressure of for the next leg down, remember nothing goes in a straight line. Tomorrow we should have some profit taking as remember next week is option expiration so we could reverse this move easily. I am still neutral here poking minor stuff here and there but I am not ready to commit. Something is telling me the rally will last only a couple of days and we are on day three already so we will see soon enough.
Our shorts are still working and are so deep in the money profits that I am not even adding to them, just letting them play out as it may.
On a different note I posted a video and it was taken down because it spoke the truth about the media and the market (Jon Stewart video), this is the stuff the regular guy has to be afraid of seriously. Maybe they will take down my blog but who cares the point is why if it is not true why be worried, right CNBC, right CRAMER. In my book you are all just a bunch of crooks and not for the regular guy, who I am.

A HI-5 for JON STEWART!!!!



MARKETJEDI

March

Well I told you March would be significant and it seem to be proving that way. Firstly I have gotten emails about the rally and in my opinion I think it is just a bear market rally, what I do find bullish about it is that it pushes pass areas of resistance without much effort. Now longer term this year I do believe we will trade somewhere close to S&P 1000 BUT I dont think this is the beginning of that run. There is a good shot we test those lows THIS month and then I will be ready to go on the long side with more confidence.